Monday, September 16, 2024 Turkey stands out as a top destination for tourists, drawing millions of travelers each year with its deep historical roots, vibrant cultural heritage, and stunning coastlines. Beyond tourism, the country has also become a key center for business travel, thanks to its expanding economy and prime geographic position. This has led to a surge in tourism-related investments, as both global hotel brands and local enterprises vie for a foothold in this thriving market.
10 hotel chains in Turkey are gearing up to launch 155 new projects Turkey’s hospitality sector is gearing up for significant expansion, with the ten largest hotel groups in the country planning 155 new projects by 2025, according to local reports. Local companies play a pivotal role in the accommodation industry, managing investments, operations, and development, which are crucial to the country’s booming tourism sector. This surge in activity is also attracting the attention of leading international hotel brands eager to establish new properties in Turkey, further solidifying its position as a top destination for global travelers.
According to Lodging Econometrics’ 2024 2nd Quarter European Hotel Construction Investment Trend Report, Istanbul has emerged as a key player in Europe’s hotel development landscape, with 50 new projects, placing it second only to London, which has 76 projects. On a country level, Turkey ranks fourth in Europe for the number of new hotel ventures, reflec.