Shangri-La, Tanriverdi to build seven-star hotel in Istanbul
Caglayan expressed hope that the agreement would lead the way for the Shangri-La Asia to make more investments in Turkey.
The new seven-star Shangri-La Istanbul will be built on the spot of an old tobacco warehouse overlooking the Bosphorus in the Besiktas district. The 14-storey hotel, with seven of them below sea level, is planned to be opened in April 2012. The hotel is estimated to cost $250 million.
Shangri-La Asia Ltd. runs 68 hotels worldwide and Shangri-La Istanbul is among the four hotels to be built in Europe besides Paris, Vienna and London.
Travel Daily News
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