June 2017 Investment Incentive Bulletin
June 2017
ACCOMMODATION SECTOR INVESTMENT INCENTIVE CERTIFICATES
TÜROB ASSESSMENT REPORT
The “Investment Incentive Certificates” issued by the Republic of Turkey Ministry of Economy for June 2017 were published in the Official Gazette dated 01.08.2017, and these “Investment Incentive Certificates” have been compiled in terms of the accommodation sector by the Association of Turkish Hoteliers - TÜROB.
Accordingly;
a) June 2017
In June 2017, across the country a total of 13 new hotel projects in 7 different cities received an “Incentive Certificate,” while 2 hotels with a total investment amount of TRY 6.610 million received a “Renovation Certificate.” Following the new investments, which will be completed with total spending of TRY 267.919 million, 618 new additional jobs will be created in the sector.
With the completion of the investments to be made in 7 different cities, bed capacity will increase by 2,379. In terms of the number of beds, Muğla ranked first with 921 beds, followed by Izmir with 786 beds.
JUNE 2017 INVESTMENT INCENTIVE CERTIFICATES
ProvincesTotal Number of HotelsBedsInvestment TRYEmployment
ANKARA-1822,800,00025
ISTANBUL-228242,332,00065
IZMIR-378657,464,425193
MERSİN-112010,600,00020
MUĞLA-3921126,730,000270
TEKİRDAĞ-112820,000,00015
TRABZON-2607,993,00030
TOTAL132,379267,919,425618
b) Distribution of June 2017 hotels by star category;
Among the hotels that received incentive certificates, 5-star hotels rank first with a total of 4 hotels and a bed capacity of 1,255.
JUNE 2017
INVESTMENT INCENTIVE LIST
ClassNumber of HotelsNumber of Beds
5*41,255
4*3638
3*3308
Boutique2136
Specially Certified142
Total132,379
c) Distribution of January - June 2017 hotels by star category;
In the first six months of 2017, among the hotels that received incentive certificates, 3-star hotels ranked first with a total of 45 hotels, while in terms of capacity 4-star hotels took first place with 5,897 beds.
JANUARY - JUNE 2017 TOTAL
INVESTMENT INCENTIVE LIST
ClassNumber of HotelsNumber of Beds
5*135,132
4*295,897
3*454,262
2*295
Boutique / Special Certificate12634
Total10116,020
d) Comparison for June 2014-2015-2016-2017
An increase is observed in the number of hotels and beds receiving investment incentive certificates in June 2017 compared to the previous year. Compared to June of the previous year, bed capacity rose from 1,385 to 2,379, and additional employment rose from 407 to 618 people.
Comparison of June 2014-2015-2016-2017
Year Number of Provinces Number of Hotels Number of Beds New EmploymentInvestment Amount
2014-13212,688729153.52 Million TRY
2015-14204,4921,259414.01 Million TRY
2016-781,38540792.372 Million TRY
2017-7132,379618267.919 Million TRY
e) Comparison for the January-June period of 2014-2015-2016-2017
It is observed that the January - June period figures have continued to rise. While a decline occurred in the number of beds compared to the first 6-month period of 2016, an increase is observed in the investment amount due to high-capacity facilities.
Comparison of January – June 2014-2015-2016-2017
Year Number of Provinces Number of Hotels Number of Beds New EmploymentInvestment Amount
2014-4517047,65010,9122,751.9 Million TRY
2015-4313429,9667,0411,925.3 Million TRY
2016-319419,1244,7331,480.7 Million TRY
2017-3810116,0204,5181,681.219 Million TRY
When the first half of the year is assessed, it is seen that diversity in investments on a provincial basis has increased and the investment amount has risen.
In the first half, the provinces standing out in terms of the number of investments were Antalya, Istanbul, Izmir, and Muğla, with 9 hotels each. Trabzon, with 7 hotels, was also among the notable provinces. In terms of bed capacity, Antalya took the largest share in the first half with 2,390 beds.
In the first 6 months of 2017, a total of 101 hotels received incentive certificates with a bed capacity of 16,020 in exchange for an investment amount of TRY 1,681 million. With the completion of the investments, 4,518 new jobs will be created.
The number of hotels receiving Modernization Incentives remained at 23. On a provincial basis, Antalya ranked first with 6 hotels, while 3 hotels in Istanbul received modernization incentives. With the modernizations to be carried out, 10,747 beds will be added to bed capacity and TRY 126,516,563 will be spent.
© TÜROB – August 2017
