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Turkish hotel will be managed by Morgans
A Mondrian-brand hotel is planned for the Old City area of Istanbul. The 128-key locale, which is scheduled to open in 2014, will be operated by Morgans Hotel Group.
“Istanbul serves as a bridge between Asia and Europe, where we will provide our guests with an exciting lifestyle hotel experience while generating an attractive return for the company,” says Morgans’ ceo Michael Gross.
The company will manage the hotel under a 20-year contract, with a 10-year extension option. Morgans also says it will contribute approximately $10 million to the project in return for a 20 percent ownership interest in the venture that owns the hotel.
Among Mondrian Istanbul’s amenties will be a spa renovated from an existing historic Turkish bath, and original food and beverage options conceived by The Light Group. Already this year, Morgans has entered into hotel management agreements for Mondrian-branded hotels in Doha in Qatar, Nassau in The Bahamas and London.
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