The Israeli hotel chain is entering the US real estate and tourism market for the first time, with the acquisition of the Manhattan hotel for $125 million.
Israeli hotel chain Dan Hotels (TASE: DANH) this morning notified the Tel Aviv Stock Exchange (TASE) that it is expanding its international operations and entering the US real estate and tourism market for the first time, with the acquisition of the Nomo Soho hotel in New York. Dan Hotels is paying the Sapir Corporation $125 million for the Manhattan hotel. The acquisition from Sapir Corp. is being carried out as part of a process of protection from creditors, in which the hotel was valued at $150 million.
The average occupancy rate of the hotel in 2024 was 82% and in the first half of 2025 it fell to 73%. The hotel’s revenue in 2024 was $33.6 million and $13.2 million in the first half of 2025. EBITDA in 2024 was $7.4 million, falling to just $674,000 in the first half of 2025.
The hotel at 9 Crosby Street in Manhattan has 26 floors with 264 rooms and suites. It also includes the NoMo Kitchen restaurant, the Sip Happens cafe, meeting rooms and a fitness center. It is one of the tallest buildings in the Soho district, surrounded by galleries, boutiques and luxury restaurants.
Published by Globes, Israel business news – en.globes.co.il – on October 26, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
Dan Hotels CEO Shlomi Tahan
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