The forum offers international investors, financial institutions, banks, funds, and leading hotel brands the perfect stage for networking, business collaboration, and exploring financing opportunities. Attendees will have the chance to assess Turkey’s dynamic investment landscape and the exciting opportunities it holds.
Turkey’s diverse hotels and leisure market has never looked more vibrant, with a slate of hospitality investors and operators expanding across the country in response to strong tourism metrics.
After the country enjoyed a record-breaking year for visitors in 2023, with around 49.2 million overseas arrivals, the country banked some $55.9 billion in revenue. This topped the already impressive post-Covid bounce back of 2022, when some 44.6 million foreign tourists visited the country, according to Culture and Tourism Ministry data. Significant numbers of visitors from Russia, Germany, the UK, Bulgaria and Iran all contributed to the figures swelling the country’s coffers last year.
Culture and Tourism Minister Mehmet Nuri Ersoy predicts that arrivals could reach 60 million this year, as international curiosity about Turkey’s diverse destinations, its relative affordability and the growing presence of big-name operators continue to attract travellers. Renub research suggests that Turkey’s hotel industry will be worth some $ 11.6 billion by the end of the 2026.
While the country’s economy has suffered in recent years with Turkey battling record high inflation, recent government policy changes are improving many of the country’s economic markers. President Recep Tayyip Erdogan hopes that a steadier outlook will also help foreign investors feel more comfortable about lira-denominated assets.
The economy grew by around 4.5 percent in 2023, continuing four previous years of growth, and is expected to perform positively again this year. The International Monetary Fund (IMF) recently revised its growth prediction up to 3.6% for 2024, while the World Bank expects a slightly more modest growth 3 percent, citing “longstanding macro and structural challenges that undermine potential growth” including “high inflation, low productivity growth, low labour force participation and employment levels”.
International operators
Yet the country’s strong hospitality fundamentals remain central in driving operator expansion ambitions across Turkey. Radisson Hotel Group added seven Turkish hotels, comprising six signings and one new opening, in the first half of this year. The group said that the new properties were helping it move closer to its target of 100 hotels in Turkey by 2030.
Elie Younes, executive vice president and global chief development officer at Radisson Hotel Group, says: “Turkey stands as a cornerstone in Radisson Hotel Group's global strategy, leveraging its strategic geographic position and thriving tourism landscape.
“We are enthusiastic about expanding our footprint in cities such as İstanbul, İzmir, Bursa and Mersin, further solidifying our commitment to delivering exceptional hospitality experiences. These initiatives underscore our dedication to forging strong partnerships and making a positive impact in the communities we serve.”
Istanbul is a key target for the group, with both recent and upcoming openings slated for the capital. Park Inn by Radisson Istanbul Caglayan will open in Q3 2026 with 88 keys in a strategic central location, directly opposite Istanbul’s Palace of Justice. Meanwhile, in the same period, the 78-room Premier Hotel Kagithane Istanbul, a member of Radisson Individuals, will open on greenfield land in the Kagithane region, on Istanbul’s European side.
But the group is further targeting an increasingly diverse set of destinations, such as its first ever hotel in Yalova, namely the Park Inn by Radisson Yalova City Center which opened this year. It will also introduce the Radisson RED lifestyle brand to Istanbul and seek to expand its resort properties in the country.
Turkish takeover
Marriott International is another big name expanding in Turkey. Marriott president and CEO Anthony Capuano says that the group will add another 20 Turkish properties to the 50 or so it already has by the end of 2025.
“Turkey is a sought-after destination with its rich culture and heritage, natural landscapes, breadth of travel experiences and authentic hospitality,” Capuano notes. “Marriott International is proud to have the opportunity to contribute to the ongoing growth and diversification of the country’s travel sector through our longstanding presence and robust growth plans in the market.”
The new additions will come across all segments - luxury, premium, select and midscale. One of Marriott’s newest brands, Four Points Express by Sheraton, is seen as ideal for capturing the affordable travel dollar in the country. While the Four Points Express by Sheraton Bursa recently opened, the flag will also be flown from another four properties in Ankara, Antalya and Istanbul.
Lifestyle brand Moxy is also set to debut in Istanbul and Izmir, while select brands AC Hotels, Aloft Hotels and Residence Inn are all set to expand. In the luxury segment, Legacy Ottoman, a Luxury Collection Hotel, Istanbul, should open in 2025.Marriott will also debut premium brands Marriott and Sheraton in the country with 2025 openings in Usak and Cappadocia.
The world-famous cave city of Cappadocia has also caught the eye of Spanish hotel group Barcelo, which recently launched its first hotel there. Barceló Cappadocia, the group’s fourth hotel in Turkey, has 170 keys, of which 19 are cave rooms carved into ancient rock. Barcelo, which debuted in Turkey in 1988, also has two properties in Istanbul and one in Ankara.
“Our aim is for Barceló Hotel Group to continue progressing in Turkey, attracting the interest of tourists from various nationalities, both from Europe and Latin America,” says Hasan Ekmen, area director of Barceló Hotel Group Turkey.
Turkish Tourism Investors Association (TTYD)
