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Report: Dubai Holding in talks to buy European hotels from Turkey's Doğuş

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Report: Dubai Holding in talks to buy European hotels from Turkey's Doğuş

Turkish billionaire Ferit Sahenk's conglomerate Doğuş Holding AŞ is in discussions to sell some of Europe's most famous luxury hotels, including the Capri Palace in Italy, the Aldrovandi Villa Borghese in Rome and Istanbul's Grand Hyatt, to Dubai Holding LLC, as part of a debt restructuring effort, Bloomberg News reported, citing people with knowledge of the matter.

Dubai Holding, controlled by Sheikh Mohamed bin Rashid Al Maktoum, is reportedly in the due diligence stage for the Capri Palace and Aldrovandi, the report noted, citing one of the unnamed sources. The company owns Jumeirah Group, which will likely operate the hotels.

The news outlet could not obtain a statement from either Dogus Holding or Dubai Holding regarding the matter.