Marmara Group to open third hotel in Manhattan New York

ISTANBUL - Hürriyet

The Marmara Group seizes the opportunity to purchase a building on Park Ave.

The Marmara Group hotelier is getting ready to open its third hotel in New York on Manhattan’s luxury Park Avenue.

“We are very pleased with our hotel in Manhattan. As we were working on our second hotel, an opportunity came our way and we purchased another building on Park Avenue. In one to one and half years we will open our second hotel, and then a third,” said the Marmara Group Executive Board Director Hüseyin Öztürk to daily Hürriyet. According to Öztürk, Manhattan is the most important tourist destination in the world. The building on Park Avenue will undergo renovation and the hotel will be open in one to one and a half years. The other hotel will be built on a separate lot in Manhattan.

Third hotel in design stage on empty lot

The old buildings on the lot have been demolished and the new hotel is still at the design stage, Öztürk said. Once it is completed, the Marmara Group will have opened three hotels in Manhattan. The flagship hotel is 80 percent occupied by longer-term residents and 20 percent by regular hotel customers, according to Öztürk.

The Marmara Group currently is currently managing ten facilities, including hotels and Istanbul’s Esma Sultan Yalısı, a facility that is rented out for events and weddings.

“We prefer not to expand to locations we are not too familiar with. We prefer cities we know and have experience with … We will grow in sprawling cities like Istanbul and New York,” added Öztürk.