Gal Naor to Lead Hamat Gader Revival with 170 New Villas
Translated & summarized from Globes by baba
Entrepreneur Gal Naor is acquiring a 70% stake in Hamat Gader for approximately 150 million shekels to revitalize the Golan Heights tourist site. The plan includes expanding accommodation to 170 units, upgrading facilities, and attracting international tourists, with entrance fees expected to rise. This investment is part of a larger strategy by the Gal Naor Group to develop nature and leisure destinations in Israel.
The story in 6 lines · by baba
- Gal Naor is acquiring a 70% stake in Hamat Gader for about 150 million shekels.
- The plan includes expanding accommodation from 31 suites to approximately 170 units.
- Hamat Gader's facilities, including its thermal baths, will undergo significant upgrades.
- Entrance fees are expected to increase as part of the revitalization effort.
- The investment is part of Gal Naor Group's broader strategy in the tourism sector.
- The site has suffered significant losses due to the COVID-19 pandemic and the ongoing war.
Hamat Gader, a popular tourist site in the southern Golan Heights, is set for a significant rehabilitation and expansion plan after suffering from a sharp decline in tourism due to the COVID-19 pandemic and the ongoing war. Entrepreneur Gal Naor, daughter of Yitzhak Teshuva, is acquiring a 70% stake in the operating company for approximately 150 million shekels. Naor plans to expand the accommodation capacity from the current 31 suites to around 170 units and upgrade the thermal baths and spa facilities. The goal is to attract international tourism and enhance the overall visitor experience.
Previously, Hamat Gader was operated by four kibbutzim in the southern Golan Heights: Mevo Hama, Kfar Haruv, Afik, and Misgav. This arrangement, established with the Israel Land Authority, designated the site as a "production means" for the kibbutzim. The site, known for its thermo-mineral springs, spa hotel, swimming pools, and crocodile farm, has incurred significant losses in recent years, particularly since the pandemic and the outbreak of war, which led to a sharp drop in visitors and temporary closures.
The new plan involves constructing 140 additional accommodation units, building on a 2018 approved construction plan. Alongside the new construction, a comprehensive upgrade of the baths, infrastructure, and services is planned. Naor's investment aims to inject new capital to develop the site and diversify its revenue streams, with a focus on expanding its hospitality operations. The deal has been approved by the kibbutzim, and the state is not expected to obstruct the ownership transfer, as only operating rights are being sold, not the land itself.
As part of the revitalization, entrance fees to Hamat Gader are expected to increase from their current rates of 127 shekels on weekdays and 139 shekels on weekends. While the exact pricing structure is yet to be determined, the intention is to maintain public access to the baths, not to restrict them solely to hotel guests. The development also aims to elevate Hamat Gader to international standards, drawing inspiration from leading spa resorts worldwide.
This venture is part of Gal Naor Group's broader strategy to invest in and develop nature and leisure sites across Israel, with Hamat Gader slated to be a flagship project. The success of the plan will depend on the required investment scale, the recovery of tourism in northern Israel, and the ability to increase revenue without significantly impacting public accessibility.