According to Turizmdatabank's newly initiated Revenue, Exchange Rate, and Cost Analysis, hotels in Türkiye made over 1 Billion Dollars in turnover in January 2024, whereas in 2023, turnovers were below this figure.
In the distribution of turnover made by hotels in Türkiye in January 2024, İstanbul was in the lead with a 40% share, followed by Antalya with 28%. Following them were Ankara, Muğla, İzmir, and Bursa.
300 new hotels coming to the sector
In the 2024-2025 period, approximately 50,000 rooms will become operational within 300 new hotel projects of 4 and 5 stars in Türkiye. A total of 77 billion TL will be spent on these investments. As of February 18, 2024, approximately 50,000 rooms and 111,000 beds will become operational in 300 new hotel projects of 4 and 5 stars that will open in the 2024-2025 period.
How much will be spent on new hotels?
A total of 76.8 Billion TL will be spent on hotel investments that will open in the 2024-2025 period. Antalya, İstanbul, and Muğla lead in terms of budget size, while İstanbul is significantly ahead in terms of the number of projects.
The hotel sector in Türkiye is a vital component of the country's tourism industry, reflecting both the country's rich cultural heritage and its appeal as a destination for international and domestic travelers. With its unique geographical location straddling Europe and Asia, along with a coastline that borders four different seas, Türkiye offers a diverse range of travel experiences—from historical sites and natural wonders to luxurious resorts and cultural festivals.
