Even during the darkest days of the global economic meltdown, the value of Israeli real estate properties across the entire country continued to rise. The combination of low-interest rates and the limited number of affordable new apartments in major cities and towns, created the perfect real estate storm for local and foreign buyers.
A combination of lower airfares and a variety of incentive deals for cash-strapped foreign tourists has most probably saved the Israeli hotel industry from one of the worst Passover seasons in recent memory.
But the extra effort to lure foreign tourists to Israeli hotels for nine- and 10-day holiday packages, which like Sukkot account for a significant portion of annual profits, seems to have come at the expense of marketing the annual summer excursions.
The Inbal Hotel in Jerusalem, whose officials say it is weathering the overall steep decline in bookings from foreign tourists this year, has added a new health club. It boasts a state-of-the-art “techno-gym,” wet and dry sauna, as well as tastefully decorated treatment rooms offering a wide variety of massages and treatments for body and soul, according to the hotel. The hotel also features a covered and heated swimming pool that is open year-round at no extra charge for guests.