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Asian hotels line up for investments in Turkey

  • Published by Ozgur Tore

bodrum

Attracting millions of tourists from every corner of the world, Turkey is set to welcome more Asian hotel chains to its tourism sector. Following the success of Raffles, Aman Resort, Mandarin, and Shangri-La, more hotel chains from the Far East are lining up for investments in the country.

Japanese Okura and Hong Kong-based Swiss-Belhotel have already announced their decision to open hotels in Turkey, while The Ascott from Singapore and Central Group of Thailand have added the country to their future investment plans.

The first Japanese tourism company to invest in Turkey, Okura will open 5 hotels in the country over the next 5 years. The Japanese hotelier has chosen the Capadoccia region of Nevsehir, famous for its underground city and unique geological formations, for its first hotel investment. Hotel Okura Spa&Resort Cappadocia is to be opened in 2017 and will mainly welcome thousands of Japanese tourists to visit the region every year.

Swiss-Belhotel plans to increase the number of its hotels worldwide to 160 by 2016, in accordance with its expansion plans covering Europe and Africa, with Turkey in the lead for investments alongside Egypt, Tunisia, and Morocco.

Bangkok-based Central Group has chosen Turkey as one of the locations for its 9 new hotels worth USD 1.14 billion, while The Ascott, belonging to Singaporean investment company Temasek, has added the country to its investment list for 2015.

The combined investments of the existing Asian hotel chains in the country – Raffles, Aman Resort, Mandarin and Shangri-La – amount to USD 1.2 billion.

Turkey welcomed nearly 40 million tourists in 2014, ranking 6th among world’s top destinations.

Source: Dunya

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