Hongkong and Shanghai Hotels, owner of the Peninsula hotels, has announced that it will spend €150 million to develop a hotel in Istanbul with two Turkish partners.
With an estimated total investment of €300 million, the hotel will be built in the Salıpazarı Port located in the historic Karaköy area overlooking the Bosphorus strait between Europe and Asia.
The project is part of company’s 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.
