Dan Hotels to Buy Israel Regency

13th May 2010 (Last Updated May 13th, 2010 18:30)

Dan Hotels Corporation has signed an agreement to acquire the Jerusalem Regency Hotel in Israel for $47m. The 505-room, five-star hotel is owned by a group of Jewish investors and has been put up for sale because of its waning financial report. Dan Hotels, controlled by Fe

Dan Hotels Corporation has signed an agreement to acquire the Jerusalem Regency Hotel in Israel for $47m.

The 505-room, five-star hotel is owned by a group of Jewish investors and has been put up for sale because of its waning financial report.

Dan Hotels, controlled by Federmann Enterprises, said it has not yet decided how to finance the acquisition.