Michael Hay, Founder and Managing Partner, Vision Hospitality transformed the Tel Aviv market into a major boutique hotel destination, with over 40% of current hotels qualifying as boutique, many of which were developed by Hay himself. Meet Hay at IHIS as he speaks on the "Operational Panel: What are the Optimal Models for Running Hotels Successfully in Israel?" joined by Ronit Copeland, Managing Director, Copeland Hospitality and David Jenkins, Vice President, Development, Russia, CIS, Baltics & Israel, Radisson Hotel Group.
Q: How would you describe the hotel investment market in Israel right now?
A: After years of slow development pace and low investor’s appetite the market enjoys a growing international and local developer’s interest and recognition.
Q: Where are the most attractive cities/destinations for hotel investors?
A: No doubt Tel Aviv is the strongest and most dynamic market in Israel due to a strong leisure and business demand base. Jerusalem is also attracting much interest as it is and will always be one of the most interesting and important destinations around the world.
Q: What are your company’s plans in Israel for the years to come?
A: As a major force in the transformation of the local market into a vibrant boutique and lifestyle destination Vision Hospitality in partnership with Atlas Hotels is looking to expand its hotel portfolio in Tel Aviv, Jerusalem and other emerging markets within Israel.
Q: What hotel brands or properties do you think are most interesting to watch in Israel at the moment?
A: With the growing interest of international investors and hotel companies in the local market I will be particularly interested to see global upper market as well as the lifestyle brands establishing presence in Israel.
Q: What is the biggest obstacle for a foreign investor searching for a project to invest in?
A: Finding the right location/price/size of assets will always be the biggest challenge for international developers in Israel as the local market is still not efficient enough and pricing of potential assets not always logical.
Q: What is keeping you busy at the moment?
A: Continuing the development and growth of our pan-Israeli portfolio in unique and special locations and assets…