The Yitzhaki Group is offering for sale the last 10 vacation suites at the Herods Hotel in the Hertzliya Marina. There are numerous different types and sizes of suites, starting from 58 square meters with 2 rooms, being offered for 4 million shekels and upwards. Suites measuring 85 square meters are being offered for a beginning price of 7 million Shekels. Both suite options have beautiful balconies with comparative sizes of 12 square meters and 33 square meters. All suites have seaside views.
The HERODS Hertzliya Hotel, established by the Yitzhaki Group, is located at Haogen Street 11 adjacent to the sea and in close proximity to the Arona Mall. The hotel is considered one of the most elegant hotels in Israel and the rooms have a beautiful view of the Marina and the Mediterranean Sea. There is also a Gourmet Restaurant within the hotel, a fitness facility, a business center, a full swimming pool, a pampering spa and a jamboree game center for children.
The Herods Hotel opened in march 2015, and is managed by the Patel Company. There are 252 rooms in the hotel, of which 86 are hotel suites which have been brought to the market as vacation apartments for private ownership. Selling the suites in TAVAO allows for owners to use them for 6 months a year, and enjoy all the amenities offered by the hotel. In the remaining 6 months the apartments are rented and managed by the Patel Company, ( also in charge of the management of the hotel). During this 6 month period the owners of the apartments benefit from the Hotel income and share between them an estimated 22% of that profit.
The Promisedland corporation which markets these vacation units notes that the majority of the buyers are Israeli business men and women who purchase the apartments for hospitality/hosting purposes and for company meetings and events. Some of the buyers are also Israelis who live abroad as well as Jews from all over the world who arrive in israel for short periods of time. These owners from abroad wish to own their own apartments while receiving a consistent return on their investment.
“There is no comparison when it comes to purchasing a normal apartment compared to a hotel apartment”, explains Einat Zakira, the CEO of PromisedLand and a known expert in the field of Hoteling and Vacation Apartment Marketing. “Vacation units throughout the country are a rare commodity usually located right next to the sea, between 100-300 meters from the beach. The hotel projects offering vacation apartments for sale in Israel are limited, therefore making them an exclusive “product” with a fitting price tag. Besides for that, the owners of these units enjoy a full concierge service, full time management of their apartment unit an all its necessities, all part of the regular hotel suite services. They also benefit from hotel profits during the (6 month) time period in which they do not stay in their unit. Those who purchase these kinds of apartments usually want assets in Israel but also want a management company to oversee those assets for them. With that being said, these kinds of assets are appropriate for a very exclusive crowd, usually those living abroad, or Israeli business people who live abroad”.