Foreign Property News | Posted by Zarni Kyaw
Turkish billionaire Ferit Sahenk's Dogus Holding AS is seeking buyers for luxury hotels across southern Europe including the Capri Palace, according to people with knowledge of the matter.
The group - which also owns restaurant chains including Zuma and Nusr-Et, best known for its founder chef's meme "Salt Bae" - is also talking to prospective buyers for Villa Dubrovnik, Madrid's Hotel Villa Magna and Rome's Aldrovandi Villa Borghese Hotel, said the people, who asked not be identified because the discussions are private.
It's likely that these so-called trophy properties, some of them formerly owned by wealthy families, will be sold individually rather than as a portfolio, one of the people said.
Potential buyers for the hotels include high net worth individuals from Portugal, Spain, Italy, Asia and the Middle East, some of the people said.
The firm is also seeking buyers for Grand Hyatt in Istanbul amid its debt restructuring, another person said. A Dogus representative declined to comment.
The Dogus hotels each cater to the rich and famous.
Capri Palace, for instance, includes just 68 rooms and two Michelin-starred restaurants. Its presidential suite, which comes with a private pool, can be booked for 8,163 euro per night later this month, according to its website.
Mr Sahenk, once Turkey's richest man, spent heavily on hotels, marinas and restaurants in Turkey and abroad after selling his 31 per cent stake in Turkiye Garanti Bankasi AS for almost US$5.5 billion.
Ref : Property Report
