Turkish Billionaire Looks for Buyers for Luxury Hotels in Europe
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.
It's likely that these 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 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 the Grand Hyatt in Istanbul, another person said. A Dogus representative declined to comment.
The hotels cater to the rich and famous. Capri Palace, for instance, has just 68 rooms but two Michelin-starred restaurants. Its presidential suite, which comes with a private pool, can currently be booked for 8,163 euros ($9,427) per night, according to its website. Madrid's Hotel Villa Magna is often the scene of photocalls for Hollywood actors, with Rami Malek, Olivia Munn, Denzel Washington and Ryan Reynolds promoting films there recently.
