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, which was carried out with our own resources without using a loan,” said Mustafa Oran, Chairman of the Board of Directors of Oran Group. 

The company entred the tourism sector following its first investment made in the 4-star Oran Hotel in Istanbul in 1980. “Outside of manufacturing and trade, we will continue to support the economy with tourism,” Oran added. 

Oran Group, which began its operations with a filling station in Batman, opened new filling stations of the UK-based energy companies Shell and BP in Istanbul. The group entered Turkey’s manufacturing industry in 1986 with its subsidiary BTM. “We then entered the paper sector with our subsidiary, Levent Kagit,” Oran said. The firm also invested USD 50m in 2013 to establish a polyester felt manufacturing subsidiary, Oran Polyester Kece.  

Over USD 120m in investment abroad

Oran Group entered the international market with investments in the Central Asian market in 2006. The company set up a thermal insulation board manufacturing plant in Almaty, Kazakhstan, investing over USD 120m in the country. “We are the first manufacturer in this field in Kazakhstan. We created nearly 1,000 jobs with this facility,” said Oran. 

Leave a Reply

Your email address will not be published.