ORAN GROUP ACQUIRED RENAISSANCE IZMIR HOTEL

Oran Group, which operates in various sectors including manufacturing and tourism, has acquired the five-star Renaissance Izmir Hotel from the U.S.based hotel chain Marriott International. Marriott has over 7,000 hotels in 30 different cities. The Izmir hotel, which has 110 rooms and was built in 2013, has been incorporated by Oran Group. “We’ve decided to increase our investments in tourism. Our growth will also continue with the support of investments and collaboration in the tourism industry following this acquisition. This deal was carried out with our resources without using a loan,” said Mustafa Oran, Chairman of the Board of Directors of Oran Group. The company entered the tourism sector following its first investment in the 4-star Oran Hotel in Istanbul in 1980.