The Fattal Hotel Group, an established hospitality leader from Israel, has further amplified its presence in Cyprus by acquiring the prestigious five-star hotel, GrandResort, in Limassol. This move is consistent with the group's recent aggressive expansion strategy in the country.

According to an announcement from Invest Cyprus, Fattal has already secured ownership of nine hotel properties on the island, spanning key tourist destinations such as Paphos, Larnaca, Protaras, and Limassol. The GrandResort, positioned as one of the luxury establishments in Limassol, is set to undergo extensive renovations and will subsequently be rebranded under the Leonardo Hotels Limited Edition.

Additionally, the group has recently revamped the Elias Latsi Holiday Village Resort, soon to be reintroduced as the Leonardo Club Family Resort. Further building on its momentum, Fattal has also inaugurated a new hotel in Limassol under the NYX brand. Another establishment under the same brand is anticipated to launch soon in Nicosia.

Ron Aloni, CEO of Fattal, expressed his satisfaction with the group’s investments and the promising business environment in Cyprus. "The company currently employs 1,200 people in Cyprus, and we're excited to further grow our operations on the island," Aloni said. "Our immediate focus is to finalize the transitions for the newly acquired properties, finalize their renovation plans, and scout for new investment opportunities."

As a dominant hotel group in Cyprus, Fattal believes in the future of Cypriot tourism. The company emphasized the importance of long-term collaboration between the government and private sectors in areas such as taxation, sustainability, market support, and investment incentives.

Marios Tanousis, Managing Director of Invest Cyprus, warmly welcomed Fattal Group's expansion efforts in Cyprus. "Decisions by leading hotel groups and global investors to enlarge their operations here clearly show a vote of confidence in the future prospects of Cyprus's tourism and hospitality sector," Tanousis noted. "As the government's investment authority, we'll continue to back and facilitate foreign direct investments in vital sectors of the economy, aligning with the government's vision and strategy."

To further underscore Fattal's credentials in the hospitality realm, the group stands as Israel's largest hospitality entity. It's also one of the fastest-growing hotel groups globally, boasting 270 hotel properties across 117 destinations in Israel, Europe, and the United Kingdom.