Ethos Asset Management Inc. USA Announces Deal in Turkey with HGI DEVELOPMENT to Develop and Build a Hotel at Ankara Airport

SAN DIEGO, Feb. 15, 2022 /PRNewswire/ -- ETHOS ASSET MANAGEMENT INC USA, announced a new long-term financing partnership with HGI DEVELOPMENT, a Turkish hotel development company that operates 39 branded hotels and supports investors in their hotel projects. Ethos and HGI have been working together closely, over the last year, in structuring the overall investment with an initial capital infusion that will continue for several years.

Carlos Santos, President, and CEO of Ethos stated, "We are delighted to be partnering and supporting such an important and innovative project in Turkey. Ethos is proud to be part of this project and important development to meet passenger demand at Ankara Airport. With Turkey's popularity as a tourist destination rising steadily, this is a critical moment to look to the post Covid future world. We are honoured to be partnering with HGI's impressive CEO, Guillaume Defrance, who has a significant track record in developing major brand name hotels worldwide and his passion, commitment and vision for establishing an airport hotel in Ankara. A Branding and Management Agreement signed between a large international group hotel brand and HGI DEVELOPMENT cements this project firmly as a premier investment for Ethos in the hospitality and leisure sector in Turkey for 2022. The project will provide employment and career opportunities for local people and local businesses who will benefit from the construction phases and roll out opportunities for the long term."

Guillaume Defrance, CEO, HGI DEVELOPMENT, said,

"I am particularly proud to work with the ETHOS Group as a partner. This project is a first step in the hotel business in Turkey and we have other projects to come in Turkey and in other countries. The international hotel franchises we work with will allow us to perform in a very active hotel market in Turkey. This hotel will be located in a business area very close to Ankara airport. There was a very important lack of beds in this area. This area is in strong development and requires an important hotel development. The reactivity of the ETHOS group allows us to seize market opportunities. I would like to thank the management team in particular for their support in the development of this project."

Hans Kastensmith, Attributed Holdings Managing Partner, Ethos Associate, said,

"AHI is proud to be a part of this development project.  This marks another significant accomplishment for Mr. Santos and Ethos in its work to expand in the Turkish project financing market. It has been a pleasure working with HGI and Ethos on the first commercial real estate financing project in this highly important sector for the Ethos – AHI team in Turkey".

About Ethos Asset Management:

Ethos Asset Management (Ethos) is an independent, US-based company with a global reach in resource mobilization and project financing.

For more information about Ethos Asset Management, please visit https://www.ethosasset.com/.

About HGI DEVELOPMENT:

HGI DEVELOPMENT is a company specialized in the development, support, financing and management of hotels throughout Europe and the Middle East.

Contacts:
HGI DEVELOPMENT Contact:
Guillaume Defrance, CEO;
[email protected]

Ethos Contact:
Hans Kastensmith, Attributed Holdings Managing Partner, Ethos Associate; [email protected]; +1 858 535 4814

SOURCE Ethos Asset Management INC