9/22/2011

Finance center bid draws hotel chains to Istanbul

Zaman - As Turkey’s financial capital vies to become a global finance center like London and Singapore, hoteliers worldwide feel the urge to take advantage of the city’s rising popularity.

About a hundred new hotels are currently under construction in the city, a sign of expected traveler inflow in the coming years, according to a report by the Turkey’s Touristic Hotels and Investors Association (TUROB). Out of the hundred new hotel investments, 39 are five-star hotels that are part of international chains like Hilton, Radisson, Marriott, Le Méridien or Crowne Plaza. Some 20 luxury chains are either investing in Istanbul for the first time or increasing their existing bed-capacity, the TUROB report reveals.

“The wave of new hotel investments in the city will add a total of 31,500 beds to Istanbul’s accommodation capacity, taking the number of beds to over 100,000 within two years,” said TUROB President Timur Bayindir. “All the major international hotel chains now have a presence in Istanbul,” Bayidir added, describing the surge of interest to Turkey’s most populous city. The number of Istanbul’s foreign visitors has reached over 3.5 million in the first half of 2011.
Turkey; tourism sector; istanbul hotel investments; istanbul finance center; istanbul luxury hotels; istanbul room capacity; istanbul tourist figures; le meridien; marriott; radisson