On Monday evening the Knesset plenum approved the first reading of Tourism Minister Yariv Levin’s plan to make changes to the high prices of vacation accommodations in Israel.
The plan would have hotels classified as national infrastructure, and the National Infrastructure Committee would streamline approval for the construction of new hotels. In addition to that, in order to lower the risk to project investors, independent local planning committees will be able to approve increases of up to 20% in the allocation for apartment hotels.
The plan also aims to make the planning process for hotel construction more efficient and dramatically increase the availability of hotels rooms in the hopes of bringing down hotel prices by 20%.
Estimates claim that within about five years Israel would gain about 15,000 hotel rooms.
Levin said on Monday that “this is a move that will affect the pocket of each and every one of us.”
The bill will now be presented to the Knesset Interior and Environmental Protection Committees to be discussed prior to being read a second and third time in the Knesset.