Printer Friendly

Mandarin Oriental takes its luxury brand to Bodrum.

ASTA? Holding has announced its collaboration with Mandarin Oriental Hotel Group, one of the world's most prestigious luxury hotel groups, for the branding and operation of The Residences at Mandarin Oriental, Bodrum. Valued at e1/4600 million ($700 million), the 102-key Mandarin Oriental, Bodrum and The Residences at Mandarin Oriental, Bodrum comprises of 98 villas and 116 residences set on 600,000 sq m site at Cennet Bay.

The project is scheduled to be completed in 2013 with a targeted opening date of the first half of 2014. It will be the first property in Turkey to be managed and branded by Mandarin Oriental Hotel Group. Additionally, The Residences at Mandarin Oriental, Bodrum is the most ambitious project in the Mediterranean basin and aims to elevate Bodrum to the top of the luxury resort destination list, especially amongst visitors from the Gulf States. In May 2012, the Turkish government took the step of dropping the existing law of reciprocity relating to foreign purchase of property. This opened up the market to allow foreign buyers from new countries, notably the UAE and Gulf, to acquire unique and luxurious Turkish property for the first time. Vedat A?c?, chairman of the Board of Asta? Holding, said: "Turkey ranks among the top ten in the world's tourism industry in terms of revenues and number of foreign visitors and the industry has quadrupled its share in national income over the last 20 years making it one of the fastest growing markets in the world.

"These factors indicate that Turkey is a rising star in its region's tourism industry. We, as Asta? Holding, believe that our project with Mandarin Oriental Hotel Group will add outstanding value to Bodrum and Turkey. The project will set a benchmark for other international brands as the most luxurious resort and residence project in Europe and the Mediterranean Region. Our goal is to support Bodrum in its mission to become the leading resort destination of Europe's south coast, where people can relax, entertain and revitalise, in a luxurious hideaway environment," he added. Copyright 2008 www.tradearabia.com

Copyright 2013 Al Hilal Publishing & Marketing Group

Provided by Syndigate.info an Albawaba.com company
COPYRIGHT 2013 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:Travel & Tourism News
Date:May 1, 2013
Words:362
Previous Article:AHIC to tap new investment opportunities.
Next Article:More rooms, visa-free travel on India's agenda.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters