Ismailov's turkish Mardan Palace recognized as the country’s most successful hotel

Author: Irina Kozlova Section: Hotels & Restaurants Guide

Issue: July 2010, Vol. 5, No. 6

Tags: Mardan Palace

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Real Royal Hideout 

Telman Ismailov’s Mardan Palace has been named by Eurobank Tekfen and Economist and Capital journals ‘the most successful five-star hotel’ in Turkey in 2010. This elegant, royal-styled hotel, which reportedly cost the billionaire $1.5bln, was commissioned in 2009 in a ceremony that featured global show business superstars. However, such huge investments in a foreign country during crisis did not please Russian political leadership, and this, according to some sources, led to the closure of Cherkizovo market, Ismailov’s core asset, for “violations of sanitary regulations.” Having understood his nearly ‘fatal misjudgment,’ the billionaire decided to expiate his ‘sins’ by bankrolling not less grandiose projectsa in Russia.