Earlier this month, the US-based Ritz Carlton hotel chain announced that it will open its first hotel in Israel in March 2012. The investment in the project will be about $160 million.

One of Marriott International’s luxury brands, Ritz Carlton said it would open the 110-room hotel – which will also include 85 apartments – at the marina in Herzliya, an upscale suburb of Tel Aviv on the Mediterranean Sea. Herzliya is Israel’s main high-tech center.

The hotel will be owned by two Israeli companies, Tidhar and Adi’s Investments (owned by Adi and Irit Strauss).

Simon Cooper, Chief Operating Officer of Ritz Carlton, said in a statement that he hopes to open more hotels across Israel in the future. The US-based chain operates 70 hotels worldwide with another 30 under development.