According to the most recent report by Renub Research, titled "Turkey Hotel Market & Volume, Budget & Star Rated Hotel ( 1st, 2nd, 3rd, 4th, 5th) Star, City, Province, Chain Hotel (International, Domestic), Company (Hilton, Marriott, Radisson, Accor) & Forecast," Turkey has become a hotspot for tourist trying to find leisure activities. Turkey could be a combination of natural beauty, along with historical and cultural sites. Turkey has been ranked because of the 6th most visited country in the year 2019. the town like Istanbul, which is the cultural and historical capital of Turkey, attracts a large number of tourist alongside Antalya. The number of tourists in Turkey has grown significantly in recent years for other cities in Turkey like Mugla, Izmir, Aydin, Ankara, Mersin, Busra, Afyonkarahisar and Balikesir. This growth is also propelling Turkey Hotel Market because of the availability of a high number of hotels at affordable prices. According to Renub Research analysis, Turkey Hotel Market is forecasted to be US$ 11.6 Billion by the end of the year 2026.
The initiative of Turkey government to boost tourism through various programs like the Health Transformation Program started in the year 2003 are boosting Turkey healthcare sector, which results in a higher occupancy rate. Ministry of Tourism has also launched new regulation and techniques to increase revenue from tourism by increasing the number of tourists. Foreign visitors in Turkey have grown significantly from countries like Russia, the UK, Germany, Iran and Bulgaria.
Impact of COVID-19 on Turkey Hotel Market
Around the world, COVID-19 has impacted almost every economy, mostly tourism, hotel, and also the airlines' industry. Turkey could be a part of an interconnected globally, and this new crisis hits at the centre of globalization. So, we expect the coronavirus will affect the Turkey hotel market severely in the year 2020. The year 2021 will see some growth on the back of domestic tourists. Read the complete analysis of Cornonavirus's impact on the hotel industry of Turkey in the report.
Antalya is one of the most preferred cities in Turkey and has 4-star and 5-star hotels in its centre and surrounding towns like Kemer, Belek, and Kaş. Star rated hotel occupancy is increasing every year. Turkey's lucrative tourism industry souring and it's the top destination for Halal Tourism tend to drive Turkey hotel market in the coming year.
Foreign visitors have risen dramatically in the previous few years in Turkey. Countries like Germany, Bulgaria, UK, Iran, and Russia are the country where many tourists arrive in Turkey. Star rated hotel has the top significant market share in Turkey thanks to numbers of the facility given by star rated hotel. Besides, visitors also prefer star-rated hotels.
The tourism industry has been one among the hardest-hit sectors by the coronavirus pandemic because it halted travel worldwide. Turkey, which heavily relies on tourism mobility, was also severely suffering from the outbreak. Mobility, however, has gained pace over recent months after the country lifted lockdown measures and restarted flights.
The government also unveiled various measures and support for the industry since March.
"The recovery goes to be a journey, a true marathon. For some, it'll be quicker, for others will take longer. As we build our way back, our focus is on the security and our important relationships with our guests, our team members and our hotel owners. it's about rebuilding confidence in travel and letting guests know that we'll be here to welcome them once they can travel again," he noted.
Regarding occupancy rates – after tourists from several markets, including Ukraine, Russia and some European countries, started arriving in Turkey as of June – Manikis noted that consistent with STR data, hotel occupancy in Turkey ranged from between 21% and 42% from June 2020 to August 2020.
"Despite some hotel closures still in place during a number of this era, on the average, our hotel occupancy slightly outperformed the trend," he added.
Manikis also emphasized that on a broader level, Turkey started receiving inbound visitors after the reopening of borders over the summer, creating a more significant potential to compensate.
"While this can be a positive sign that people around the world still have an appetite to travel internationally whenever conditions allow, we may generally expect domestic travel to remain the priority among holidaymakers for a moment to come," he said.
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He still said while there are reasons to be optimistic for the industry beyond 2020, there are uncertainties within the precise timeline for once we may start to ascertain significant changes within the current travel trends.
"Tourism could be a highly interconnected industry with many factors and developments in some countries affecting other regions also," he noted. "The safety of guests and team members around the world remains our top priority, and currently we are specializing in supporting our hotel partners in taking the steps needed to welcome back guests whenever people feel able to travel again."
Market Summary:
By City: This research report has covered the number of hotels in the following cities of Turkey: Antalya, Istanbul, Mugla, Izmir, Aydin, Ankara, Mersin, Busra, Afyonkarahisar and Balikesir.
By Star Rated: The market, market share and volume analysis of 1st Star, 2nd Star, 3rd Star, 4th Star and 5th Star are covered in this research report.
By Province: This research report has covered Market, Volume (No of Hotel, No of Rooms & No of Beds) for the following province: Istanbul, Marmara (East & West), Aegean (Aegean & Mediterranean), Black Sea (West & East), Anatolia (Central Anatolia, Northeast Anatolia, Central-East Anatolia, and Southeast Anatolia.
By Chain Hotels: This research report has also covered chain hotel in Turkey: Top 10 International Chain Groups, Top 10 Domestic Chain Groups, Top 10 International Brand, Top 9 Domestic Brand and Chain Hotel by Category.
By Company: Overview, Recent Development and Revenue analysis of Hilton, Marriott, Radisson, and Accor are covered in this research report.
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