TEL AVIV— Elscint Ltd., a hotel and leisure property company, disclosed that its total number of rooms in hotel-owned assets is expected to increase to approximately 2,000 rooms by the fourth quarter of 2001— an increase of over 16% compared to last year. In these hotels, which are co-owned by strategic partners, Elscints share exceeds 1,100, an increase of over 15%. Elscints Chairman of the Board Abraham (Rami) Goren and President/CEO Rachel Lavine commented that over the last eighteen months the company tried to identify new opportunities and “has taken advantage of several select ones that meet or exceed [its]investment return criteria.” In the first quarter of 2001, Elscints revenues increased by 5% and gross profit increased by 18%. Second quarter results will be released in late August.
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