Former waiter David Fattal, who has rapidly risen from humble beginnings to the top of the hotel industry, founds the Fattal Hotel Management Company. As David signs his first management agreement – for the prestigious Le Meridien Eilat – even he has no idea of the successes to come.
Just one year after its launch, Fattal is already operating three major hotels in Israel, with some 500 rooms and 600 employees in all. This incredible momentum is no fluke, as David and his team consistently deliver on their promise of a great-value hospitality experience for every guest.
The Fattal Hotel Group begins to diversify its activities and build a strong portfolio of hotels in strategic, in-demand locations, starting with the acquisition of the hotel now branded as the Leonardo Club Dead Sea (previously the Nirvana).
Fattal expands its operations beyond Israel for the first time, entering the European market with the opening of the Leonardo Royal in Berlin, Germany – the inaugural hotel under the now globally-recognized Leonardo brand. More hotels are soon added all over Germany and Europe.
Migdal, Israel’s leading insurance and financial services group, acquires a 10% stake in Fattal, indicating its confidence in Fattal’s ongoing success. This year also sees the formation of the Fattal Hotels Fund, as Fattal prepares to purchase more hotels across Europe.
The Israeli market sits up and takes notice as Fattal acquires Azorim Tourism (11 hotels, previously under the Sheraton and Accor brands), becoming the country’s largest hotel chain in the process. This major deal is a stepping-stone for Fattal’s domination of the local market.
Fattal quickly makes a name for itself in the European market, acquiring the entire share capital of Queens Moat Houses (QMH) in Germany. One of the largest hotel deals in recent years (20 hotels in 13 cities), the transaction dramatically increases Fattal’s market presence.
Fattal successfully completes a sale-leaseback of the hotels acquired in the QMH deal, raising marketable debt for Fattal Properties (Europe) Ltd. and ideally positioning the company for the next stage of its expansion throughout key UK and European markets.
Fattal extends its hospitality offering with the acquisition of Irish hotel group Jurys Inn, which includes 36 hotels (8,093 rooms) in the UK and Republic of Ireland. These attractive hotels in first-class city-center locations are a major addition to Fattal’s expanding portfolio.
Bolstered by record revenues, Fattal Holdings is listed on the TASE with a EUR 1.3 billion market value. The success continues with the acquisition of Apollo Hotels in the Netherlands (13 hotels, 1,918 rooms), the iconic Midland Hotel in Manchester, and the Grand Harbour Hotel, Southampton.
Fattal enters the coveted Central London market by signing a long-term lease agreement for four Grange Hotels (1,311 rooms), and also extends its portfolio to Spain’s southern coast with two Leonardo Royal Hotels (335 rooms) in Málaga and Valencia.