Ritz Carlton is to invest US$160m (m,m) in opening a luxury hotel in Herzliya, Israel.
The hotel operator has agreed a management deal for a 12-storey property which will feature a 110-bedroom Ritz-Carlton hotel, with the top six floors featuring 85 Ritz Carlton Residential Suites.
The property, owned by Israel-based Tidhar, is the same that US-based restaurant chain Nobu planned to develop as a hotel - those plans being cancelled in 2009.
An opening date has been scheduled for March 2012 and facilities at the hotel include a luxury spa, a rooftop outdoor pool and a restaurant.
Exact details of the 510 sq m (5,500sq ft) Ritz-Carlton Spa have yet to be confirmed, but according to the company the facility will offer "rejuvenation and restorative experiences" with a number of exclusive signature spa treatments being planned for the property.
Simon Cooper, Ritz Carlton's president and CEO, said the hotel will target both leisure and corporate guests and is part of the group's expansion plans for the region.
"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."
