David Fattal Failed, and Liora Ofer Sold the Yoo Suites Hotel in Eilat to Competitors

Our office represented the Astral Hotels chain, which owns 5 hotels in Eilat, in a deal to acquire rights in half of the U-Suits Hotel (former Meridian hotel) in the amount of 115 million NIS. This is a strategic deal for the Astral group, which is controlled by Asher Gabay and Benny Zerach, as the chain is entering for the first time the category of 5-star deluxe hotels. The hotel has 246 suites and is adjacent to the beach in the central strip of Eilat beach and will officially join Astral Hotels on January 1, 2019.