Istanbul

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Istanbul is fast recalling its glory days as the capital of three empires, riding a record wave of foreign investment—$6 billion flowed into the country in January 2007—and the entry into Turkey of big names like Vodafone, BNP Paribas, and Fortis in the past two years. It may not be the official capital (that’s Ankara), but it is the country’s financial, cultural, and historic center, bridging Europe and Asia. As the money pours in, the cityscape is rapidly changing and is now home to gleaming skyscrapers, top-notch restaurants, glamorous nightlife, and even—as of last year—its very own Harvey Nichols department store.

Where to Sleep
Al Gore, Bill Gates, and European A-listers like Sophia Loren stay at the Çiragan Palace Kempinski, a restored nineteenth-century Ottoman palace whose biggest draw is a pool overlooking the Bosphorus. Bill Clinton and American dignitaries prefer the Conrad Hotel, set on a hill overlooking the city and its surrounding waters. The ultra-influential invitation-only Bilderberg Group—which counts David Rockefeller, Henry Kissinger, and former World Bank head James Wolfensohn as participants—chose the Ritz-Carlton for its Istanbul meeting in 2007. Located near the city center, this skyscraper hotel has first-rate service despite a colorless atmosphere. The Four Seasons, in the Old City, may not be as convenient to the business district, but it’s rich in historical gravitas (the building was a former prison). Hip thirtysomething advertising and media execs and British architects in search of the offbeat frequent the new Lush, where each of the 22 rooms is individually designed. Located a stone’s throw from Beyoglu, the city’s cultural center, the early-twentieth-century converted town house is also a favorite with music groups attending one of Istanbul’s many festivals.

Where to Eat
The Bosphorus defines Istanbul, dividing it in two, and the best places to eat usually come with unhindered water views. For a panoramic vista of the Old City and the Bosphorus, former Coca-Cola chairman Neville Isdell and others in-the-know head for 360 Istanbul, a contemporary rooftop restaurant and bar on bustling Istiklal Street, for the Asian-Turkish fusion menu and creative cocktails like the Bomb Baby (vodka, watermelon, mint, and cardamom). Close by, Vodafone, UBS, and Ikea execs stop by another rooftop—Mikla, where Swedish-raised restaurateur Mehmet Gürs, Turkey’s answer to the Naked Chef, serves up Mediterranean fare with a Scandinavian accent. The city’s best kebabs are at Kosebasi, which has several locations; Donna Karan, Jack Nicholson, and Warren Beatty are fans of its classic Turkish meat dishes, including the house specialty, Tarsusi, a blend of finely chopped meat and spices. Popular for lunchtime meetings, Vogue sits on top of an office tower in a complex that houses PricewaterhouseCoopers and advertising agencies galore; it commands views of the Bosphorus and has a varied Mediterranean menu and a fine sushi bar. For a stylish Sunday brunch, Istanbulites head to the Sabanci Museum, where Müzede Changa, set amid lush gardens overlooking the Bosphorus, has a menu crafted by celebrity chef Peter Gordon.

Where to See and Be Seen
Istanbul springs to life in summer, when well-heeled socialites, models, and pop stars gravitate to outdoor venues along the Bosphorus. Uma Thurman, Shakira, and NBA names head for Reina. One of Europe’s largest open-air nightclubs, it has restaurants wrapped around the central dance floor that serve everything from sushi to shawarma. The restaurant-cum-nightclub Anjelique has a winter location in Tepebasi but moves to the waterfront Ortakoy neighborhood in summer; here, the minimalist decor and outdoor seating turn the Bosphorus into the star attraction. An unlikely favorite with Istanbul’s moneyed crowd is Cahide On5, a bar-restaurant whose draw is the flamboyant drag show Tuesday through Saturday after 10 P.M.

Where to Close a Deal
The oak and leather bar at the Bebek Hotel has been an Istanbul haunt of Turkish CEOs for more than 30 years. Executives sip a pre-dinner aperitif here before moving next door to Les Ambassadeurs, a fish restaurant favored by native players such as finance magnate Erol Sabanci. Bill Gates lunches at Sans (“Luck”), long a favorite of the city’s business community for its prime wine and cigar selections. Sunset, a local landmark with sweeping Bosphorus views, has stellar cocktails, contemporary California-inspired cuisine, and a sushi bar.

Local Codes
Much like their Mediterranean counterparts, Istanbulites don’t watch the clock: They eat late and party even later. Allow at least an extra 15 minutes to get to any scheduled meeting on time (given the city’s crushing traffic). Turks are extremely hospitable: They do not expect guests to pay for anything, and insisting on doing so could be considered rude. Shopkeepers are not averse to making money, so they work long hours, opening at 10 A.M. and closing around 8 P.M.

Airport Intelligence
Istanbul ushered in the millennium with a sleek new $300 million international terminal that matches any other major European hub. Flying in is no problem, but the traffic to your hotel could give you a headache. The ride into the city center is about 15 miles, and a taxi will cost between $20 and $30; the trip normally takes 40 minutes but, at the wrong time of day, can easily be an hour and a half. At all costs, avoid arriving during morning or evening rush hour.

The Three-Hour Tour
The Covered Bazaar is a teeming indoor maze of jewelry, carpets, leather, textiles, and antiques that dates back 500 years. Its sheer size—65 alleys and more than 4,000 shops—is not for the faint of heart. Get oriented by finding the Old Bedestan, the original marketplace, in the center of the bazaar, and remember that haggling is part of the dance. On a sunny day, take a ferry from Eminonu up the Bosphorus, past splendid Ottoman mansions, churches, and mosques, and enjoy lunch at one of the small fishing villages—Rumeli Kavagi or Anadolu Kavagi—at the mouth of the Black Sea. For an authentic Turkish bath (this is Turkey, after all), head to the historic Cagaloglu Hamam or Çemberlita Hamam in the Old City. You get a pestemal, or towel, and, after warming up on a hot stone slab for about 10 minutes, can expect to be massaged, scrubbed, and soaped for another 15 minutes, leaving your skin softer than you could ever imagine possible.   

–Pelin Turgut