EUR 100 million Loan from TSKB and Isbank for Akfen GYO’s City Hotels Chain

30 July 2008
- 3 min Read

Akfen GYO started its tourism investments in 2007 with its city hotels chain project commenced in Istanbul and Eskisehir. In addition to 3 hotels opened in above-mentioned cities, Akfen GYO will realize hotel projects in Trabzon, Kayseri and Gaziantep. The company continues its international hotel chain project which is carried out in 2 different types under the names “Nov” and “Ibis”, focusing especially on Turkish business travellers. Akfen GYO has a strategic partnership with “Accor Hotels”, Europe’s leading and the world’s third largest hotel group. Accor Hotels has over 4,000 hotels under 9 different hotel brands in 90 countries. The goal of the project is to build 60 hotels in total across Turkey under “Novotel” and “Ibis Otel” brands.