Turkish hospitality sector continues its unabated growth with new players entering the market.
The number of hotel chains and groups in Turkiye (Turkey) has now reached 67, indicating a significant interest from both domestic and international investors in the country’s tourism sector.
This recent update was highlighted by the Hotel Association of Turkiye (TÜROB), showcasing an increase in the accommodation capacity to 157,000 rooms, with 46 domestic and 21 foreign hotel chains and groups contributing to this expansion.
TÜROB President Müberra Eresin emphasized the enduring attractiveness of the Turkish accommodation sector for investors, highlighting the success of domestic chains and the need for their support in expanding abroad.
Despite the two-year hiatus due to the pandemic, the interest of hotel chains and groups in the Turkish tourism market has not waned.
The TÜROB 2023 Chain & Group Hotels Research revealed that the number of chain and group hotels operating in Turkey continued its growth over the last five years, solidifying the country’s position as a prime destination for hospitality investments.
The research indicates that the 67 chain and group hotels consist of 46 domestic and 21 foreign investments, with a total of 722 accommodation facilities reaching a room capacity of 157,495. This marks an increase from the 2019 figures, which reported 57 chain and group hotels with a total of 627 facilities and 145,450 rooms.
The distribution of these facilities between city hotels and resort hotels shows a leading presence in urban areas and coastal regions, with Istanbul, Antalya, and Muğla being the top locations.
The operational model of these 722 facilities varies, including franchises, owner-operated, managed, and leased properties, with a majority being Turkish companies.
Eresin pointed out the mixed nature of these investments and the potential for Turkish firms to expand internationally, highlighting the challenging conditions for the accommodation sector to benefit from the Turquality support program.
Leading the list of chains by facility count in Turkey are Wyndham Hotels, Hilton Worldwide, and Accor Group, showcasing the diversity and international presence in the Turkish hotel market. Other notable mentions include Marriott Hotels, Radisson Hotel Group, and IHG-InterContinental Hotels Group, further emphasizing the country’s appeal as a vibrant market for hotel investments.
This growth in the hospitality sector, despite challenges such as the pandemic, underscores the resilience and attractiveness of Turkiye (Turkey) as a destination for both tourists and investors.
With an increasing number of hotel chains and groups showing interest, the sector’s future looks promising, bolstered by the support for domestic chains to venture abroad and the continuous influx of international brands.
