ISTANBUL Raffles Hotels & Resorts will flag a luxury hotel at a major mixed-use project under construction in Istanbul.
The Zorlu Center residential, retail and office complex will feature a US$175 million Raffles hotel, funded by owner Zorlu Holding SA. Raffles, which will manage the 180-key hotel under a 30-year agreement, is making its debut in Turkey.
Raffles Istanbul Zorlu Center is scheduled to open late next year. It will include a 3,000-sq.-ft. spa, a ballroom with capacity for 1,200, indoor and outdoor pools, a heliport and two exclusive restaurants.
The Zorlu Center project in Istanbul’s business district is expected to cost a total of US$2.5 billion.