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Turkey’s Hotel investment growth Slows down

  • Published by Ozgur Tore

construction workers

Turkey’s hospitality industry faces a slowdown in hotel investments in January 2015. According to the Touristic Hotels & Investors Association’s 2015 Hospitality Industry İnvestment İncentive Certificate Report, a total of 18 hotel projects in 10 cities received ‘Greenfield investment incentive certificate’.

According to the incentive certificates, a total of 195.4 million Turkish lira (69.3 million euros or US$77.8 million) will be invested for the 18 projects in 10 cities and the investments will support 666 jobs. The new hotel investments will increase bed capacity by 3,134 nationwide. In January 2014, a total of 38 hotel investment certificates were issued for 10,970 bed capacity in 15 cities.

City Number of hotels (Jan.15) Number of beds (Jan.15)
Istanbul 4 466
Antalya 2 1.136
Muğla 2 318
Nevşehir 2 314
Izmir 2 290
Adıyaman 2 152
Ankara 1 134
Ağrı 1 130
Balıkesir 1 108
Trabzon 1 86
Total 18 3.134
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