Cappadocia's Famous Hotel Faces Auction Over Debt

A luxury hotel in Turkey's Cappadocia region, known for its unique cave accommodations, is facing foreclosure and auction. Eight properties linked to the Cappadocia Cave Resort SPA in Uçhisar have been slated for sale by the Nevşehir Execution Office.

The total estimated value for these properties, which include hotel sections, restaurants, spa facilities, and pools, is approximately 499 million Turkish lira. The sale is due to existing mortgages.

One of the key properties up for auction is a 25-room hotel section built on an 800-square-meter plot. This three-story structure, spanning 1,300 square meters, also houses a restaurant, spa, Turkish bath, sauna, massage rooms, a gym, a terrace, and both indoor and outdoor pools. The rooms, ranging from 25 to 40 square meters, feature bathrooms with tubs and jacuzzis. The natural stone and wood construction highlights the region's architectural style. This specific section has an estimated value of 85.3 million lira.

Another significant property, a two-parcel site in the Tekeli mevkii covering 970 square meters, has the highest estimated value at 181.3 million lira. This larger complex includes 27 hotel rooms, a cafe, restaurant, outdoor and children's pools, a spa, massage rooms, a gym, a Turkish bath, a salt room, and a sauna, with a total built area of 2,390 square meters.

The auctions for all eight properties are scheduled to occur electronically in September, October, and November. Detailed information and sale conditions will be available on the UYAP E-Sale system. Notably, personal belongings within the hotel are not included in the sale.