10/13/2008

No change in Amplio's investment plans

Milliyet - Amplio Hotel, which began venturing into Turkey in 2007 with the objective of constructing 80 hotels within 10 years with an investment of $1.5 billion, did not change its mind regarding its investment plans despite the adverse impact of the severe global economic crisis. "We will construct 20 Hilton Garden Inn hotels by 2011," said Alaeddin Babaoglu, chief executive officer of Amplio Hotel Investments, adding that they have already started the construction of a hotel in Diyarbakir. Amplio Hotel plans to launch other hotel projects in Corlu, Bursa, Corum, Trabzon, Erzurum, Malatya and Manisa where they have already purchased building plots, said Babaoglu. “The fact that Istanbul was chosen as the European Capital of Culture for 2010, increased its potential, ”Babaoglu stated in a previous interview.