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American, Israeli Investors Funding Seven Inns in Israel

Israeli and American investors will provide the funds to build seven franchised Holiday Inns in Israel with construction of the first beginning in Jerusalem next year and the second in Tel Aviv in 1973. The plans were announced by Kemmons Wilson, founder and board chairman of Holiday Inns, Inc., of Memphis, the world’s largest international network of hotels and motels. Participants in the Israeli Holiday Inns franchise agreement include Israeli Inns International, of St. Louis, Mo., Sesli Investments and Solel Boneh, the construction cooperative of Histadrut. The largest of the projected Holiday Inns, in Jerusalem and Tel Aviv, will have 450 rooms and convention facilities. Israel’s first Holiday Inn, to have 120 rooms, is presently under construction at Ein Gedi on the Dead Sea. Other sites selected for future Holiday Inns are Kiryat Shemona. Neve Yam Ramat Rahel, Gesher Haziv and Lydda Airport.

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