American real-estate entrepreneur Aby Rosen and Starwood Hotels & Resorts, today unveiled the W Tel Aviv site in the old city of Jaffa

TEL AVIV, Israel, June 4, 2013 /PRNewswire/ -- RFR Holding and Starwood Hotels & Resorts Worldwide, Inc. today unveiled the innovative design concept of W Tel Aviv Hotel and Residences, currently under construction in the old city of Jaffa. Scheduled to open in 2015, W Tel Aviv - Jaffa will provide a cutting-edge lifestyle experience and panoramic views of the Mediterranean coast.

For the first time since announcing the debut of the W brand in Israel last April, Aby Rosen, Co-founder and Principal of Manhattan-based RFR Holding, the owner of the hotel, opened the doors of the historic 19^th-century heritage building, and allowed first glance at the construction and restoration work already underway. The complexity of the project is compelled by the careful and precise work being done to reconstruct the historic building, which includes a ravishing chapel. Overall, the cost of the entire project is estimated in more than 50 million dollars.

"For me, investing in Israel was deliberate and personal – creating a unique recognizable asset having immediate impact, with the power to change the way people view the country and its people, is what we want to achieve. Hotels add vibrancy to cities. Bringing a new modern hotel with great design by John Pawson and the contemporary luxury of the W brand, associated with tourism, food, current trends and a great vibe, is the most obvious way for us to showcase the innovative, growing, dynamic society Israel has become," said Rosen.

Anthony Ingham, Vice President of Starwood's Luxury and Design Brands in Europe, Africa and the Middle East, presented W's vision for the project, which combines the unique contemporary, design-led W brand, with Tel Aviv, one of the most stylish and cosmopolitan cities on the Mediterranean.

"Taking the W brand into Tel Aviv will mark a true milestone in W's global expansion into the world's most exciting and vibrant destinations. With each new W Hotel opening, we are able to reinvent the luxury hotel landscape, offering cutting-edge design, whatever/whenever service, and insider access to what's new and next for both our guests and locals alike," said Ingham. "Here in Jaffa, we are creating a fusion of New York's dynamism and its never-ending energy with that of Tel Aviv, which is similarly known as 'the city that never sleeps'."

Acclaimed British architect John Pawson, who designed the W Tel Aviv – Jaffa Hotel and Residences, revealed the design concept of the hotel, residences and public areas, inspired by local environment with W's DNA serving as the consistent red thread. In his design, Pawson complements and revitalizes the historic building standing in the core of the project. The dramatic light-bathed interior of the hidden chapel is restored and behind the city wall a lush courtyard is created as a natural gathering place. The new architecture effectively closes the cloister, the remodeled central courtyard extending six meters below the undercroft of the new building.

W Tel Aviv - Jaffa will offer 125 stylish guest rooms, a signature restaurant, a destination bar and W Living Room (W's take on the traditional lobby). Other luxury facilities include an Away Spa, SWEAT^® state-of-the-art fitness centre, and a glamorous outdoor WET deck with pool. Guests can also expect the W brand's signature Whatever/Whenever® service philosophy, providing whatever they want, whenever they want it. The hotel will offer a full-service, 24-hour WIRED business centre.

This project will also feature 38 W-branded Residences at W Tel Aviv - Jaffa, which will come with a private entrance. Featuring luxurious apartments ranging from 90 to 544 square metres, priced at 6.4 million NIS to 58 million NIS, the six-storey Residences at W Tel Aviv - Jaffa will be built alongside the heritage building in which the hotel is housed. Residents will enjoy access to the facilities at W Tel Aviv - Jaffa, including signature W offerings and services.

About W Hotels Worldwide

W Hotels is a contemporary, design-led lifestyle brand and the industry innovator with 43 hotels and retreats, including 15 W-branded residences, in the most vibrant cities and exotic destinations around the world. Inspiring, iconic, innovative and influential, W Hotels provides the ultimate in insider access, offering a unique mix of cutting-edge design and passions around fashion, music and entertainment. W Hotels offers a holistic lifestyle experience that is integrated into the brand's sensibility through contemporary restaurant concepts, glamorous entertainment experiences, stylish retail concepts, signature spas and inspiring residences. With more than 14 years of proven success, W Hotels is on track to reach 60 hotels by the end of 2015. W Hotels have been announced for Guangzhou, Milan, Shanghai, Beijing, Bogota, Abu Dhabi, Mumbai, Dubai, Jakarta, Panama, Muscat, and Sante Fe, Mexico, while upcoming W Retreats include Verbier, Goa, and Mexico's Riviera Maya. For more information, visit www.whotels.com. To live the W Hotels lifestyle 24/7/365, visit www.wresidences.com. Follow @WHotels on Twitter.

About RFR

RFR is a fully integrated real estate investment firm based in New York City with a core focus on select urban markets in the United States and Germany. Founded by Aby Rosen and Michael Fuchs in the early 1990's, the firm has been an active force in the New York City and German real estate market for much of the past two decades. RFR's portfolio has grown to include more than 100 properties located in select domestic and international markets. While its property portfolio is anchored in the Manhattan and key German commercial markets, RFR also has significant commercial, residential, hotel, and retail holdings. RFR has a proven track record of adding significant value to the properties it acquires through property-level repositioning and strategic financial engineering. RFR has created an organization with deep experience in all phases of the property life cycle and is positioned to take advantage of market opportunities.

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SOURCE RFR Holding LLC