Most luxury hotel Turkey – the 5-star Mardan Palace in Antalya – until recently owned by Russian multimillionaire of Azerbaijani origin Telman Ismailov, was sold at auction on Monday, November 2.
How to Forbes reports, the only participant in the auction was Turkey's state bank Halkbank, which acquired the hotel Mardan Palace 5* in Antalya for the first and only bid of 360.05 million Turkish lira (about 127.8 million USD). It should be noted that Ismailov's hotel was previously valued at least at $255 million, and the cost of its construction in 2008-2009 exceeded the unprecedented amount for the European hotel business of $1.4 billion.
Let us recall that rumors about the possible loss of the hotel by Telman Ismailov (the most famous and richest person from the small community of Mountain Jews in Azerbaijan) have been circulating for several months. Earlier it was reported that due to Ismailov’s huge debts the hotel would go to Xalk Bankasi, but later information appeared about the achieved debt restructuring agreements. There was also information about the extreme interest in acquiring the Mardan Palace hotel by the structures of one of Turkey's richest businessmen, billionaire Nihata Ozdemir.
