After selling the stake, the Lewis family’s holding in the Israeli hotel chain will fall from 74% to 69.6%.
Isrotel (TASE: ISRO) controlling shareholder the Lewis family, is continuing to sell shares, after refusing to do so in the decades since it founded the hotel chain. Isrotel notified the Tel Aviv Stock Exchange (TASE) this morning that the family had sold 2.4 million shares – a 4.4% stake – for NIS 88.30 per share for an overall NIS 210 million. The share price of the sale represents a 7% discount on the current market price at the opening of trade this morning. The deal was led by Tzvika Manes’s Barak Capital Underwriters.
RELATED ARTICLES
Isrotel hotels provide safe haven for evacuees
Isrotel opens new hotel in Tel Aviv Port
Hotel construction in Israel booming
The Isrotel hotel chain, led by CEO Lior Raviv, has a market cap of NIS 5.6 billion. In the first quarter, Isrotel reported revenue of NIS 368 million, up 14% from the corresponding quarter last year. Net profit was NIS 2.2 million, down 92% from the corresponding quarter last year. This is due to erosion in the gross profit rate and an increase in selling and administrative expenses. These figures precede the Iran operation, the impact of which will only become clear later in the summer, with publication of the second quarter results.
The Lewis family sold shares in Isrotel for the first time in February 2024. The family founded the chain in 1980 in Eilat, and has gradually opened hotels around the country. The family’s latest move is intended to express confidence in the TASE, due to the war, and primarily to increase the share’s tradability. The share is listed on the Tel Aviv 125 index, and has risen by 20% over the past year (before investors reacted to the current sale). Now, after selling the stake, the Lewis family’s holding will fall from 74% to 69.6%.
Published by Globes, Israel business news – en.globes.co.il – on June 29, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
Isrotel King Solomon Hotel Eilat credit: Bar – El
