The Rennaissance Hotel is located in a nice location near many other hotels on the beach. I would consider it 1st class but not luxury. My favourite hotels are the Dan which now has a new wing and the Hilton followed by the Sheraton, all located on the beach. Cheaper, is the Dan Panorama which I personally also like.

By the way El Al participate in the American Airlines frequent flyer program but they do not give 100% mileage in Y; only 50%.

As to missing Swiss, I really don't think you are missing much. However I notived that they are using the A340 to TLV at times, which was only recently delivered.