The 192-room hotel will be located in the centre of the Turkish city, overlooking Erzsebet Square and offering views of St Stephen’s Basilica.
It is due to open in the second quarter of 2016 after undergoing an extensive renovation, which will commence at the start of 2016.
The news comes shortly after Ritz-Carlton announced a hotel opening in Bali and its second in Malaysia. The company intends to extend its portfolio to 100 properties by the end of 2016.
Jumeirah Bodrum Palace hotel opens in Turkey
St Regis Istanbul hotel opens for business
Steigenberger Hotels to debut in Istanbul
'Godzilla hotel' opens in Japan
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