President Bayındır: The growing bed capacity in the Black Sea region must be well analyzed

In February 2017, 11 new hotel projects with a total investment value of 513 million TL received incentive certificates. A 320 million TL incentive application for one project in Istanbul caused investments in February to turn positive compared to the previous year.
The downward trend in accommodation sector investments that had continued for the past three years has turned positive. The Investment Incentive Certificates issued by the Ministry of Economy for February 2017 were compiled in terms of the accommodation sector by the Association of Turkish Hoteliers (TÜROB). Accordingly, in February 2017, 11 new hotel projects with a total investment value of 513 million TL received incentive certificates across 10 cities nationwide. Five hotels with a total investment amount of 18.2 million TL received renovation certificates. In February of last year, 10 hotel projects in 6 provinces had made incentive applications worth 128.2 million TL. The increase on a monetary basis this February stemmed from a 320 million TL incentive application for a project being implemented in Istanbul.

Investments must be well analyzed

Compared to February 2016, in February 2017 bed capacity rose from 2,558 to 2,706, while additional employment rose from 547 to 842 people. Evaluating the investment data, Timur Bayındır, President of the Association of Turkish Hoteliers (TÜROB), drew attention to the fact that the slowdown in tourism investments that had begun last year started to rise as of February. Bayındır said, "We believe that the growing bed capacity, particularly in the Black Sea region, needs to be well analyzed. Implementing investments without conducting a sound field study lowers business efficiency while also causing imbalance in competitive conditions."

Antalya in first place

On the other hand, in terms of the number of beds, Antalya ranked first in February with 1,142 beds. Antalya was followed by Trabzon with 408 beds and Istanbul with 360 beds. Among the hotels that received incentive certificates, 3- and 4-star hotels ranked first with a total of 8 hotels, while in terms of capacity, 5-star hotels took first place with 1,860 beds.