Blue Circle Hotels has bought the Mercure hotel and is reopening the Savoy.
The Blue Circle Hotels Ltd., owned by the German-Jewish Gertler family, has bought the Tel Aviv Mercure Hotel at 14 Ben Yehuda Street from Avner Levy for $16.6 million on the basis of a maximum shekel-dollar exchange rate of NIS 4/$.
The four-star Mercure, a business hotel that is one of Tel Aviv newest hotels, opened last year. It has 103 rooms on 12 floors and is managed by the French Mercure hotel chain.
With this acquisition, the Gertlers become influential players in the Israeli hotel industry. They own 40% of the 270-room Tel Aviv Carlton and half of the 250-room Tel Aviv Metropole. The Gertlers' partners in these hotels are other European Jewish families. In August, the Gertlers will reopen the Tel Aviv Savoy Hotel on Geula Street. The 60-room hotel has been renovated, two floors have been added, and it has been rebranded as a boutique hotel. The hotel was the site of a terrorist attack in March 1975.
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