Fattal Hotels Sets Up Traveltech Investment Venture
Called Ventures Journey, the investment firm, launched in partnership with Tel Aviv-listed Spring Ventures, will invest in private companies and projects developing travel and hotel-related technologies
Israeli hotel chain Fattal Hotels Ltd., a subsidiary of Tel Aviv-listed Fattal Holdings (1998) Ltd., has partnered with Tel Aviv-listed investment firm Spring Ventures Ltd. to form a joint traveltech investment venture, the companies announced in a filing Tuesday. Called Ventures Journey, the joint venture will invest in private companies and projects developing travel and hotel-related technologies. Per the agreement, Fattal will hold an 81% stake in Ventures Journey. Spring Ventures will be able to invest directly in companies backed by Ventures Journey to increase its stake.
Founded in 1998, Fattal is one of Israel’s largest hotel companies, with over 190 hotels in 17 countries. The company’s brands include Herods Hotels, Leonardo Hotels, and U Hotels.