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On the sign:
סמל המועצה לשימור אתרי מורשת בישראל סמל העיר ירושלים סמל משרד התרבות והספורט סמל הרשות לפיתוח ירושלים סמל משרד ירושלים ומורשת
מלון תל אביב - רון בניין בן שתי קומות שנבנה בשנים 1928-1927 למגורי האחים עזרא ופנחס קוקיא, על פי תכנון של האדריכלים נ’. פתסיס וספירו ח’ורי ונבנה בידי הקבלנים ראובן חסידוף ויצחק פרץ, בסגנון האקלקטי. זמן קצר אחרי השלמתו, הוסב למלון "תל אביב". כמלון התגלגל שמו למלון רון ומלון מנורה, ואכסניית ירושלים.
فندق تل أبيب – رون أقيمت العمارة ذات الطابقين في ۱۹۲۷ - ۱۹۲۸ لسكن الأخوين عزرا وبنحاء كوكيا بتصميم المهندسين المعماريين باتسيس وسبيرو خوري بأسلوب انتقائي. بعد وقت قصير من اكتمال العمارة تم تحويلها إلى فندق تل ابيب الذي تحول إلى فندق رون وفندق منورا ونزل أورشليم.
Symbol of the Council for the Preservation of Heritage Sites in Israel The emblem of the city of Jerusalem Symbol of the Ministry of Culture and Sports Symbol of the Jerusalem Development Authority Emblem of the Ministry of Jerusalem and Heritage
TEL AVIV-RON HOTEL A two-story eclectic style residence house designed by architects Patsis and Spiro Khouri and built in 1927-1928 for the brothers Ezra and Pinchas Kukia. Shortly after its completion it was converted into Tel Aviv Hotel, which became Ron hotel, later Menora hotel, and Jerusalem hostel.
The sign shape is rectangular but its head is designed according to the silhouette of the old building of the Gymnasia Herzliya, which serves as a logo of the Council for the Preservation of Heritage Sites in Israel
As you can see in the enlarged photo, and as indicated on the sign, the place was called at the time of the photo: The Jerusalem Hostel Click for a larger image
Click for a larger image 
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The closest sign from this series (93 Meter): Jerusalem - Heritage Sites in Israel - "Egged" first Central Bus Station 
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