The Ritz-Carlton Hotel Company announced plans for its first property in Israel at the marina in Herzliya, a coastal suburb just north of Tel Aviv.

Due to open in March 2012, the 110-room hotel will also include 85 Ritz-Carlton Residential Suites. The project is co-owned by Tidhar (owned by Gil Geva and Arye Bachar) Adi Strauss and Irit Strauss, and represents an investment of US $160 million.
 
Commenting on the plans to operate The Ritz-Carlton, Herzliya, Simon F. Cooper, president and chief operating officer, said, "For a number of years, the Ritz-Carlton Hotel Company has recognized the strategic potential of extending our brand to Israel. Having spent several years in Israel earlier in my career as a hotelier, I know the country very well."
 
"The selection of a site in Herzliya will appeal to both leisure and business travelers, and recognizes a coastal suburb just north of Tel Aviv as an area that is ready to welcome a five star-caliber property. We hope the signing of an agreement to manage the first Ritz-Carlton in Israel will only be an initial step toward other future locations and opportunities," Cooper continued.

"The enthusiasm of the government of Israel and the partners about this exciting project shows their confidence in The Ritz-Carlton brand and its reputation for operating world-class properties around the world," he said.
 
Gil Geva, co-owner of The Ritz-Carlton, Herzliya, said "The Ritz-Carlton will set a new standard for luxury management and comfort in Israel's hotel and tourism industry. It is poised to drive growth in Herzliya, as well as tourism sites all over Israel," he predicted.