The Israeli hotel chain is entering the US real estate and tourism market for the first time, with the acquisition of a 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 Sapir $125 million for the Manhattan hotel. The acquisition is being carried out by Sapir Corp as part of the process of protection from creditors, with the value of the hotel reaching $150 million.
The average hotel occupancy rate in 2024 was 82%, and in the first half of 2025 it decreased 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, located at 9 Crosby Street in Manhattan, has 26 floors and 264 rooms and suites. It also features NoMo Kitchen, Sip Happens Café, meeting rooms and a fitness centre. It is one of the tallest buildings in the Soho area, surrounded by galleries, boutiques and luxury restaurants.
Published by Globes, Israel Business News – en.globes.co.il – on October 26, 2025.
© Copyright Globes Publisher Itonut (1983) Ltd., 2025.
And CEO of the hotels, Shlomi Tahan
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