167 new hotels on the way with 3 billion TL in investment; İstanbul regains its appeal...
167 new hotels on the way with 3 billion TL in investment; İstanbul has regained its appeal, while Trabzon and Van continue their rise
Investment appetite in the accommodation sector continues. Investments rose by 0.6 percent in 2018 compared to the previous year. A total of 3 billion TL will be invested in the 167 hotels for which incentive applications were filed. While İstanbul and Antalya were once again the provinces that attracted the most investment, the influx of investment into Trabzon and Van also continued.
Following two difficult years in tourism, the upward trend that began at the start of 2018 was also reflected in accommodation sector investments. According to a report prepared by the Association of Turkish Hoteliers (TÜROB) based on data on the 'Investment Incentive Certificates' issued by the Ministry of Trade, in 2018 a total of 167 new hotel projects with 28,661 beds across 49 provinces nationwide received an 'Incentive Certificate.' The new investments, which will be completed at a total cost of 3 billion 50 million TL, will create 8,303 new additional jobs in the sector.
