Stella Stays launches two towers in Istanbul

Stella Stays launches two towers in Istanbul

The launches in Istanbul mark the company’s first move into European markets, as part of an aggressive global expansion plan, after launching in Saudi Arabia in early June 2022. Stella Stays is actively exploring further opportunities in Turkey, as well as top destinations in Europe and globally.

Mohannad Zikra, Co-founder and CEO of Stella Stays, said: “We are very excited about our expansion into Istanbul as it is one of the most visited cities in the world with north of 13 million annual visitors. The Ministry of Culture and Tourism of Turkiye projected about 45 million tourists and $35 billion in revenue for 2022 - a sharp recovery from the pandemic impact, with the majority of visitors coming from Europe.

“Istanbul is renowned for its rich culture, history, impressive architecture, a modern skyline and delightful shopping experience, which contribute to its popularity. Istanbul is also the gateway between Europe and Asia with a buzzing residential and hospitality real estate sector. These are the attributes that make Istanbul a perfect destination for Stella Stay’s global expansion.

“We plan to continue developing Stella Stays’ portfolio in Turkiye’s top cities and the surrounding regions.”

Stella Stays enters global markets through master leases or profit-sharing agreements with real