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

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.