Iconic Antalya hotel put up for sale

Iconic Antalya hotel put up for sale

ANTALYA – Demirören News Agency
Iconic Antalya hotel put up for sale

A luxury hotel with 553 rooms and 1,209 beds in the resort town of Kemer will be auctioned for a minimum value of 144 million Turkish Liras (nearly $24.4 million).

The appraised value of the property, which also includes thousands of trees and ornamental plants, is twice as much of the minimum auction value, according to a report prepared as part of a foreclosure decree.

Martı Myra Hotel was built on a public land of 89,258 square meters and started operating in 1988.

Martı Group, owner of one of Turkey’s oldest tourism companies, had acquired the right to operate the premises for 49 years. Thus, the prospective new owner will have the right to operate the hotel until 2037.

The group owes about 1 billion liras (nearly $170 million) to a private bank, which has applied to a court for the foreclosure decree.

The first auction will take place on Jan 26, 2020. If the property is not sold on that day, the next auction is planned for Feb. 13, 2020.

A double room at Martı Myra Hotel on the night of April 1 is priced at 525 liras (about $90), according to its website.