September 2017 Investment Incentive Bulletin

September 2017
ACCOMMODATION SECTOR INVESTMENT INCENTIVE CERTIFICATES
TUROB ASSESSMENT REPORT

The "Investment Incentive Certificates" issued by the Republic of Turkey Ministry of Economy for September 2017 were published in the Official Gazette dated 30.10.2017, and these "Investment Incentive Certificates" have been compiled with regard to the accommodation sector by the Association of Turkish Hoteliers - TUROB.

Accordingly;
a) September 2017
In September 2017, a total of 15 new hotel projects across 10 different cities nationwide received an "Incentive Certificate." Following the new investments, which will be completed at a total expenditure of 280.791 million Turkish Liras, 887 new additional jobs will be created in the sector. In September 2017, the number of hotels receiving a Renovation Incentive was 6, and the investment amount was 62.594 million Turkish Liras.
With the completion of the investments to be made in 10 different cities, bed capacity will increase by 3,677. In terms of the number of beds, Antalya ranked first with 2,473 beds, followed by Afyon with 212 beds.
SEPTEMBER 2017 INVESTMENT INCENTIVE CERTIFICATES
ProvincesTotal Number of HotelsBedsInvestment TL (Thousand TL)Employment
AFYON121213,810,00065
ANTALYA42,473167,289,600522
DUZCE119816,200,00040
ISPARTA1707,740,00021
ISTANBUL220822,052,00065
KARS1483,290,00014
MARDIN11523,495,00045
MUGLA118834,500,00065
NEVSEHIR2364,250,00015
RIZE1928,165,00035
TOTAL153,677280,791,600887

b) Distribution of hotels by Star category in September 2017;
Among the hotels receiving an incentive certificate, 3-star hotels rank first with a total of 7 hotels.

SEPTEMBER 2017
INVESTMENT INCENTIVE LIST
ClassNumber of HotelsNumber of Beds
5*21,867
4*2736
3*7802
2*148
Special Certificate114
B2210
Total153,677

c) Distribution of hotels by Star category in January-September 2017;
In the first nine months of 2017, while 3-star hotels ranked first among hotels receiving an incentive certificate with a total of 60 hotels, 5-star hotels took first place in terms of capacity with 8,911 beds.

JANUARY-SEPTEMBER 2017 TOTAL
INVESTMENT INCENTIVE LIST
ClassNumber of HotelsNumber of Beds
5*198,911
4*428,723
3*606,056
2*3143
Boutique / Special Certificate16928
Total14024,761

d) Comparison for September 2014-2015-2016-2017
A decline is observed in the number of beds receiving an investment incentive certificate in September 2017 compared with the previous year. Compared with September of the previous year, bed capacity fell from 4,594 to 3,677, and additional employment fell from 1,342 to 887 people.

Comparison for September 2014-2015-2016-2017
Year Number of Provinces Number of Hotels Number of Beds New EmploymentInvestment Amount
2014-15235,0741,285296.80Million TL
2015-5104,4821,182413.20Million TL
2016-12144,5941,342305.20Million TL
2017-10153,677887280.79Million TL

e) Comparison for the January-September period of 2014-2015-2016-2017
It is observed that the figures for the previous January-September period continued with an increase in terms of the number of facilities. While there was a decline in the number of beds compared with the first 9-month period of 2016, an increase is observed in the investment amount.

Comparison for the January-September period of 2014-2015-2016-2017
Year Number of Provinces Number of Hotels Number of Beds New EmploymentInvestment Amount
2014-5122958,83213,8243,650.90Million TL
2015-4817238,9769,5492,662.80Million TL
2016-3713128,8687,4762,266.83Million TL
2017-4614024,7616,7852,305.6Million TL

*Kars and Mardin received an incentive for the first time this year.

January-September 2017 Province-Based Investment Incentive List for Turkey
No.ProvinceTotal Number of HotelsTotal Number of BedsTotal Investment AmountTotal Employment
1 AFYONKARAHISAR-360449,710,000.00 ?177
2 AGRI-118214,000,000.00 ?55
3 ANKARA-777759,781,779.00 ?179
4 ANTALYA-134863364,339,600.00 ?1246
5 AYDIN-346633,590,000.00 ?100
6 ARDAHAN-1729,000,000.00 ?22
7 ARTVIN-1831,908,000.00 ?17
8 BALIKESIR-428619,890,000.00 ?75
9 BURSA-6106079,810,000.00 ?318
10 CANAKKALE-22187,100,000.00 ?50
11 CANKIRI-1442,580,000.00 ?10
12 DENIZLI-330416,290,372.00 ?75
13 DIYARBAKIR-229823,800,000.00 ?105
14 DUZCE-222518,255,000.00 ?50
15 ERZURUM-11588,000,000.00 ?50
16 ESKISEHIR-22418,380,000.00 ?32
17 GAZIANTEP-1360320,000,000.00 ?180
18 GIRESUN-1205,282,500.00 ?20
19 HATAY-177049,720,000.00 ?240
20 IGDIR-1805,990,000.00 ?24
21 ISPARTA-228623,645,152.00 ?51
22 ISTANBUL-153254278,426,195.00 ?939
23 IZMIR-112221187,355,063.00 ?668
24 KAHRAMANMARAS-1945,100,000.00 ?25
25 KARABUK-331416,100,000.00 ?60
26 KARAMAN-1771,435,000.00 ?20
27 KARS-1483,290,000.00 ?14
28 KASTAMONU-11346,970,000.00 ?15
29 KAYSERI-11276,535,000.00 ?20
30 KONYA-1506,139,000.00 ?18
31 MANISA-235119,579,650.00 ?125
32 MARDIN-11523,495,000.00 ?45
33 MERSIN-112010,600,000.00 ?20
34 MUGLA-111959267,953,848.00 ?599
35 NEVSEHIR322813,550,000.00 ?55
36 ORDU222318,354,360.00 ?80
37 OSMANIYE1421,560,000.00 ?12
38 RIZE551129,459,350.00 ?151
39 SAKARYA2999102,590,000.00 ?260
40 SAMSUN334717,590,000.00 ?92
41 SIVAS361854,440,000.00 ?182
42 TOKAT229019,510,000.00 ?95
43 TEKIRDAG112820,000,000.00 ?15
44 TRABZON882784,788,877.00 ?184
45 TUNCELI11106,400,000.00 ?0
46 VAN11403,330,000.00 ?15

TOTAL 140247612,305,623,746.00 ?6785