Hongkong and Shanghai Hotels, owner of the Peninsula hotels, has announced that it will spend โฌ150 million to develop a hotel in Istanbul with two Turkish partners.
With an estimated total investment of โฌ300 million, the hotel will be built in the Salฤฑpazarฤฑ Port located in the historic Karakรถy area overlooking the Bosphorus strait between Europe and Asia.
The project is part of companyโs long-term vision to invest and operate luxury hotels in strategically selected cities starting with Istanbul, a vibrant and beautiful city that embodies both ancient and modern cultures.
