Having started to serve the guests in 1961 as a humble single-star, 35-room hotel under the name "Yenişehir Palas", it reached a new level after being purchased by İbrahim Şehitoğlu in 1972. The hotel was expanded to a two-star, 90-room hotel in 1995 as a result of the structural alterations and renovations performed at intervals after it was purchased by the Şehitoğlu Family, which is among the established families in the hotel business in Istanbul.