With a portfolio of street retail worth $250 million in Türkiye, hosting corporate tenants such as Chanel, Zara, Vakko, H&M, Starbucks, MAC, Venue International continues its luxury hotel investments in partnership with Vakko.
According to a report by Nurdoğan Arslan Ergün from Dünya Newspaper, the company plans to invest in 4 luxury hotels within this year. Kaan Namlıcı, founder of Venue International, stated that Türkiye is experiencing rapid growth in the luxury market.
"The first Moxy hotel in Türkiye"
Another area where Venue is ambitious is tourism. Initially, with a 50 percent partnership, Venue International opened Vakko Hotels in Nişantaşı-Istanbul, and recently acquired the iconic building of Afrika Han in Beyoğlu-Istanbul. Venue is collaborating with Marriott at this project.
The company is preparing to introduce the global hotel brand Moxy to Türkiye for the first time. The hotel is planned to start operating in early 2025. Namlıcı, announcing the purchase of the historic Afrika Han, one of Beyoğlu's three major hans, and their intention to create an experiential hotel with a $70 million investment, said, "Afrika Han will be Türkiye's first Moxy Hotel. We are continuing construction without disrupting the historical texture of the han. This hotel will bring energy to Beyoğlu."
Namlıcı also announced their plan to open their second Moxy hotel in the Düsseldorf region of Germany, stating, "This will be our first project abroad. We are building a 130-room Moxy. Our goal is to complete it by the end of 2024 or the first months of 2025." The investment amount for Venue's hotel project in Germany is $25 million.
"We will establish a 'tourism street' in Sultanahmet"
Namlıcı also announced the purchase of 11 buildings in Sultanahmet as part of their hotel investments and provided the following information:
"We will combine 11 buildings in the Historic Peninsula into a single hotel and create a tourism street. We aim to complete this very special Taşkonak project by the end of the year. We have invested $50 million for the tourism street."
"We have reached a $300 million investment size in tourism"
The group, which has a 122-room property in Cappadocia, is reducing it to 60 rooms to build a hotel suitable for their concept. This hotel, costing $20 million, is also planned to be completed in the first months of 2025. Kaan Namlıcı stated, "Today, with the $80 million investment we made in Vakko Hotel & Residence, we are adding value to Nişantaşı. We established a 50-50 joint venture with Vakko. We transformed one of the most valuable buildings we own in Abdi İpekçi into a hotel. This project, entirely financed by Venue International, is progressing with almost 100% occupancy today. Our goal is to ensure that all tourism brands that provide unique services in their segments worldwide are present in Türkiye. As of today, we have reached a $300 million investment size in tourism.
