The Number of rooms in Budget hotels in Turkey, attained a value of 14,754 in 2021
The indicator recorded a historical decline CAGR of 1.61% between 2018 to 2021, and is expected to grow by ...
GlobalData projects the indicator to grow ...
The hotels & motels industry consists of establishments that provide paid lodging and full guest services, typically with a continuous staff presence. In the case of motels, this includes off-street parking facilities, but not necessarily meal services. The industry is detailed in both value and volume terms. Industry value consists of the total revenue generated by (a) rent that a guest pays for an occupied room and (b) other revenues, including revenue from food and beverages, telecommunications, health and leisure operations, and car rentals. Industry volume consists of the number of establishments in a given country that provide paid lodging and full guest services.
Impact of COVID-19 on hotels and motels in Turkey
Turkey has traditionally been a country that has drawn in a large number of tourists because of its rich historical background and cultural heritage. The number of foreign tourists in Turkey has almost doubled. Many travel advisories still remain in place for the country – with Turkey bordering Syria it is considered high risk. As well as causing revenue to decline in the industry, the pandemic has also contributed to the closure of many hotels and motels in the country.
Who are the leading players?
Wyndham Hotels and Resorts is a leading player in Turkey, with many hotels operating in the country. The company operates numbers of brands internationally across the budget, midscale, and upscale segments, including Microtel Inn, AmericInn, and Wydham Grand. Wyndham cemented its leading position through the acquisition of the hotel franchise and hotel management businesses of La Quinta Holdings Inc. in January 2018.
AccorHotels is a leading player in Turkey, with lots of branded hotels operating across all segments of the industry: budget, midscale, upscale, and luxury. The company’s brands include ibis, Novotel, Mercure, Mantis, and Raffles.
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