Occupancy Rate Has Decreased But New Hotels Are Under Construction

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Occupancy rate of hotels in Istanbul has decreased in half but there is a boom in new hotel investments. 199 new facilities, which will increase the number of beds at 47,7 %, are under construction.

The number of tourists coming to Turkey has decreased at 26,5 % in May and reached 869.000 people. And on seasonal basis, it went down to 3 million 734 thousand tourists (855.000 people less in 5 months).

We are not sure about the expenses in tourism for Istanbul. However, ıt is possible to estimate by taking the prices of beds into consideration because room prices have been reduced. It is possible to estimate that revenue has decreased at 25 %.

Based on the gathered information from Turkey Hoteliers Federation, occupancy rate in hotels was 52,2 % in April in Turkey. That means that there is a decrease at 22% compared to the last year. Based on the same data, occupancy rate in Istanbul decreased from 74 % to 50,3 %, and decreased at 32 %. This decrease in occupancy rate has made Istanbul the city of Europe with the highest loss. The second highest loss belongs to Brussels, in which there was terrorist attacks.

BOOM IN HOTEL INVESTMENT

Tourism Issues don’t concern only current facilities and business enterprises but also future hotels and restaurants which are under construction now. They were so eager in this sector but they will not be able to find what they expect, maybe. There are new investments, which will double up the number of beds, in Istanbul. 199 new facilities and 48.276 beds will be added into the current number of 512 facilities and 101.303 beds. The number of beds will increase at 47,7 % in Istanbul. 44 five-star hotels, 57 four-star hotels and 54 three-star hotels are under construction.

Increasing the number of tourists is the only way in order to normalize the rate of occupancy and make the new facilities full of people. This boom in tourism investment in Istanbul shows that there are great hope on Istanbul. However, the problem is that the highest rate of tourism investment are being made during the lowest rate of the number of tourists in our country.

Permanent solution, probably, is keeping the time without terror longer and gaining the tourist’s trust again.

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