Dubai - Mubasher: Turkish billionaire Ferit Sahenk is in talks with an investment conglomerate owned by Dubai’s ruler over selling some of Europe’s most famous luxury hotels as part of debt restructuring, people familiar with the matter said.
The hotels include the historic Capri Palace in Italy, the Aldrovandi Villa Borghese in Rome, and Istanbul’s Grand Hyatt, people who asked not to be identified told Bloomberg News.
Dubai Holding, one of the three main state-run holding companies in the emirate, is conducting due diligence on the Capri Palace and Aldrovandi, one of the sources revealed.
Jumeirah Group, owned by Dubai Holding, would likely operate the hotels, the source said.
Sahenk’s Dogus Holding, which owns the hotels, declined to comment.
Moreover, a spokeswoman for Dubai Holding, controlled by Mohamed bin Rashid Al Maktoum, didn’t respond to requests for comment.
It is worth noting that Sahenk, who was once Turkey’s richest man, had sold a 31% stake in Turkiye Garanti Bankasi for about $5.5 billion.
