The first building on the site where the CVK Park Bosphorus Hotel Istanbul was built at the end of the 19th century by Italian Ambassador Baron Blanc in order to become an embassy building. The mansion which was later bought by Abdülhamid II. (1876-1909) was given to the Minister for Foreign Affairs Tevfik Pasha, who afterwards transformed the Italian Embassy into the Mansion of External Affairs. Then, the Swedish wife of Tevfik Pasha, Elisabeth Tschumi suggested converting the mansion into a hotel. This hotel, which initially called "Miramare" became the famous "Park Hotel" of Istanbul under the management of Aram Hıdır, after changing a couple of owners. “Park Hotel” was known as one the most luxurious accommodation and social event venue for long years.
Park Hotel, which operated until 1979, hosted numerous famous and important guests visiting Istanbul and had also the honor to welcome the founder and leader of the Turkish Republic, Atatürk, in 1930s. Besides, Atatürk once welcomed the King of England Edward M.S. Simpson VIII with a splendid dinner in his honor. Another prominent guest was the Prime Minister of Turkey Adnan Menderes, who reserved himself the whole first floor of the Park Hotel.
Today, the CVK Park Bosphorus Hotel Istanbul, reflects the Ottoman architecture; in a way blending the modern and classical approaches. Each floor was attributed to one of the Sultanas who had left significant marks in the history of Ottoman Empire and costumes designed to reflect each of their periods are exhibited on the corridors, while each floor was named after one of them.