Mandarin Oriental Announces 2nd New Hotel with Residences In Istanbul

Main Photo: Mandarin Oriental Etiler (in one tower) and Residences at Mandarin Oriental (in the other two towers) – imagined.

Date: April 2019

Location: Etiler residential area, Istanbul, Turkey

Name: Mandarin Oriental Etiler and Residences at Mandarin Oriental – opening 2022

No. of Keys: 158 rooms and suites and 16 serviced apartments; 251 Residences

Seller: The site was an old police academy owned by the Istanbul Municipality

Buyer: Astaș Holding A.Ş and Yapi & Yapi. This is Mandarin’s third venture in Turkey with Astaș Holding A.Ş who is the owner of the Group’s two other Turkish properties – the Mandarin Oriental, Bodrum and Mandarin Oriental Bosphorus, Istanbul which is scheduled to open in 2020.

Astaș Holding A.Ş, and Yapi & Yapi specialise in the development of branded high-end real estate projects including, residences, hotels, shopping malls and business centres. They are active players in Turkey’s construction and infrastructure sectors, providing employment for up to 3,500 people.

The new development comprises three stand-alone towers and is located in the exclusive Etiler residential area, close to the city’s central business district. One of the towers will house Mandarin Oriental Etiler, Istanbul with guestrooms, suites and serviced apartments.

Astas have experience in this multi-use concept, with the Kempinski Residences Astoria in Astoria.

The remaining two towers will house 251 luxurious Residences at Mandarin Oriental. UNStudio from Amsterdam has been appointed as the master planner and architect.

The hotel will have three restaurants and bars, and a selection of adaptable meeting spaces with outdoor areas and terraces, ideal for hosting both business and leisure events. There will also be a spa and fitness centre, offering the Group’s award-winning signature wellness programmes as well as locally inspired treatments. The hotel will have both an indoor and outdoor swimming pool.

The Residences at Mandarin Oriental will feature some of the most exclusive homes in the city, providing owners with extensive private gardens and impressive views of the Bosphorus. Owners will also enjoy Mandarin Oriental’s legendary service and direct access to the hotel’s facilities. In addition, there will be a full suite of bespoke resident facilities, including two outdoor swimming pools with city skyline views, a fitness centre and six beauty treatment rooms.

“We are delighted to be announcing a second Mandarin Oriental property in Istanbul, together with an exciting luxury residential project. We look forward to extending further the Group’s presence in one of the world’s most historic and vibrant cities,” said James Riley, Group Chief Executive of Mandarin Oriental.

“Operating two complementary hotels in a single city is something that the Group has already done successfully in Hong Kong and will soon do in London. We believe there is room for more than just one Mandarin Oriental hotel in certain select destinations around the world.” he added.

The project is slated to cater to a discerning clientele who enjoy this legendary city so rich in history and culture, at the crossroads of Europe and Asia,” said Vedat Asci, Chairman of the Board of Directors.

THPT Comment: Great move for Mandarin and their partners Astas Holding and brave for two Mandarin properties in Istanbul.

First Seen: Mandarin Oriental website

The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.

For more information – Visit www.thpt.co.uk or email info@thpt.co.uk