It is rumoured that Dubai-based Jumeirah Group is close to signing a management agreement with Turkish business woman and entrepreneur Demet Sabanci Çetindogan for its first hotel in Turkey.
The hotel: the Pera Palace Hotel in Istanbul, which was acquired by Ms Çetindogan at the end of last year.
The 115-room property is Turkey's oldest hotel; it opened in 1895 to provide luxury accommodation to travellers after the city became the last stop on the legendary Orient Express.
In April 2008, the hotel closed for a US$30 million restoration project and reopened in September 2010.
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