Israeli hotel chain Isrotel has announced plans to invest NIS1bn ($270.89m) to open five new hotels across the country this year.

This “major expansion” will increase the chain's presence to 28 hotels in the country by the end of this year.

The company's broader strategy includes seven more hotels opening over the next five years in locations such as Jerusalem, Tel Aviv, Eilat, and the Kinneret.

Isrotel’s first opening as part of the expansion will be the Gymnasia Hotel in Tel Aviv. The property will feature 145 rooms and is set to welcome guests next month.

Alongside these new developments, Isrotel is also investing in renovating its existing properties.

The chain's first property, the King Solomon Hotel in Eilat, will reopen in April following extensive upgrades.

The Mitzpe HaYamim and Gomeh Hotels, which recently served as temporary housing for evacuees, are also undergoing renovations and will soon resume operations.

In addition to its activities in Israel, Isrotel's sister company Aluma is expanding its European presence.

Aluma opened two hotels in Athens last year, with the launch of the 218-room Adia Hotel in the Greek capital city planned for this year.

Last September, Aluma marked its entry into Rome's hospitality market with the acquisition of the Savoy Hotel.