Among the world’s leading hotels, The Peninsula Hotels will soon open a property in Istanbul, Turkey. The Peninsula Hotels with properties in Hong Kong, plus Shanghai, Tokyo, Beijing, New York, Chicago, Beverly Hills, Bangkok, Manila, and Paris with London under development is expected to open The Peninsula Istanbul in near future.
Hongkong and Shanghai Hotels, owner of the Peninsula hotels, will spend €150 million to develop the hotel in Istanbul with Dogus Holding and BLG Capital, a part of Bilgili Holding. The property is planned to be opened at the Salıpazarı Cruise Port.
Doğuş Holding and its partner Bilgili Holding placed the highest offer for the privatization of the Istanbul Salıpazarı Cruise Port Area project, commonly known as Galataport with a $702 million bid in May 2013, winning the rights to operate the port area in Istanbul’s Karaköy neighborhood for 30 years.
The Istanbul Salıpazarı Port Area has up to 1,200 meters of coastline and covers an area of approximately 100,000 square meters.
It is expected that the number of cruise tourists could increase to 2 million per year, from the current level of around 650,000, after the project is completed.