Mt. Carmel is an important site, both in terms of the OT and probably in terms of the NT. This is the mount which according to tradition Elijah had his victory over the prophets of Baal (see statue above next to the Carmelite monastery). It is possible that this, and not Mt. Hermon or Mt. Gilboa was the mount of Transfiguration. Indeed, I would say its more likely this hill, since this is by tradition the hill where Elijah had his victory, and perhaps ascended into heaven. What better place for Jesus to have a vision of Elijah and Moses?
If you look closely, you can see Megiddo from this vantage point, which is our next site to visit.