Elbit has constructed and developed hotels and apartment hotels in various countries over more than 10 years:  The Netherlands, Belgium, United Kingdom and Romania. Additionally, we are currently developing hotels and hospitality complexes in Budapest, Hungary and in Bucharest, Romania. Each hotel or apartment hotel is comprised of hotel rooms and/or apartments, business suites, a health and fitness center, a business center, conference rooms and a conference hall. The hotels are managed and operated by the Park Plaza Group (with one exception being the CentreVille apartment hotel in Romania which is self-operated, and a current development in Romania which will be operated by Radisson).

The main goal of our hotel business is to acquire and manage, via management companies, four-star hotel properties which provide (at four star hotel prices) the business and vacation traveler with a five star quality accommodations a comfortable location near major transportation stations.

Our major strategy in the hotel business is to increase the number of hotel rooms in both Western and Eastern Europe, while emphasizing on those cities in which there is a hotel room shortage, or to those of which are hotels operations may offer higher quality and preferred services. This strategy is being implemented both by the acquisition and renovation of existing operational hotels and by the construction and development of new hotels on land purchased or leased in optimal locations. When opportunities arise, we also seek to lease hotels or sell our interests.