09 May 2013
Turkey’s Foreign Investment To Be Explored At CATHIC
• Turkey - one of 2012’s fastest growing CEEMEA markets
• FDI reaches record $10b annually
Prospects for foreign investment in Turkey’s burgeoning tourism and hospitality sector will be in the spotlight at the upcoming The Turkey & Neighbours Hotel Investment Conference (CATHIC) to be held in The Marmara Taksim, Istanbul, 29-30 May.
During the last decade, foreign investment in Turkey’s tourism and hospitality industries reached record levels, averaging close to $10 billion (U.S.) per year. Prime Minister Recep Tayyip Erdogan believes the country will soon be among the top recipients of foreign direct investment, much earmarked for infrastructure improvements.
A CATHIC keynote speaker, Daniel Thorniley, president of DT-Global Business Consulting GmbH, a Vienna-based consulting company that focuses on business strategy in global and emerging markets, will discuss how Turkey and its neighbours have maintained a positive outlook and created an attractive base for foreign investment despite Europe’s economic slowdown. He believes the region will provide foreign investors with huge opportunities across all lodging categories.
Another CATHIC speaker, Ömer Isvan, president of Servotel Corp., a Turkish-based consulting firm specializing in hospitality and real estate projects, is optimistic about Turkey’s tourism and hospitality sectors. “Unlike most of the top 10 tourism countries in the world – apart from China – Turkey's natural tourist assets outside of the Antalya coast are still largely untapped,” he said. “This provides the potential for substantial growth representing real numbers in increased traffic.”
Even if the country’s growth stays on par with the average worldwide pace of 3.9 percent per annum for the foreseeable future, some 12,000 rooms additional hotel rooms would be needed each year at full occupancy or 18-20,000 at average occupancy, without accounting for the equally healthy growth in domestic tourism,” Isvan said.
He cited competitive labour costs, a young workforce, the competence of construction trades and real estate value, all of which make Turkey attractive to outside hotel investors.
Trevor Ward, managing director of W Hospitality Group, a hospitality consulting firm based in Lagos, Nigeria, said Turkey is attracting a “complete range of inbound travel markets” including business, leisure, meetings, incentive travel, events, religious, medical, adventure and extreme sports. “Outside of the main centres, notably Istanbul and Ankara, there are cities lacking branded hotels, he said. “Therein lay investment opportunities.”
CATHIC’s speaker lineup features expertise in regional and international hotel development, finance, hotel branding and operations. The event also will feature sessions offering perspectives by industry experts including Marty Kandrac, managing director, Blackstone; Eric Danziger, president & chief executive officer, Wyndham Hotel Group; Geoffrey Breeze, executive director, World Travel & Tourism Council; Wolfgang Neumann, president & CEO, The Rezidor Hotel Group; and Mehmet Önkal, managing partner, BDO.
CATHIC is organized by Bench Events and Questex Media, which also manages the Russia and CIS Hotel Investment Conference, Arabian Hotel Investment Conference, International Hotel Investment Forum Asia Pacific and International Hotel Investment Forum Berlin.
About Bench Events
Bench Events has a long track record of delivering, with its partners, the premier hotel investment events in Europe, the Middle East and Africa. Bench Events Chairman Jonathan Worsley is one of the organizers and founders of the highly successful International Hotel Investment Forum, now in its 17th year. In 2005, he was responsible for launching the Arabian Hotel Investment Conference in Dubai and in 2008 launched the Russia & CIS Hotel Investment Conference. In 2011 Bench Events added two events to the portfolio, co-hosting the Turkey & Neighbours Hotel Investment Conference and launching the Africa Hotel Investment Forum. In 2012 Bench Events co-hosted the British Hospitality & Tourism Summit in London and co-hosted the Morocco Tourism Investment Forum in 2013. For more information, visit www.benchevents.com.
About Questex Media Group LLC
Questex Hospitality + Travel, the largest multimedia organization in the world dedicated to hospitality and travel, drives revenue, productivity and value creation for these related industries through strategic investment and deal-making forums, powerful lead-generation tools, interactive online business solutions, world-class events and industry-leading publications.
Questex Hospitality + Travel operates throughout the United States and Americas regions, EMEA and Asia/Pacific through a variety of market-leading properties and services including International Hotel Investment Forum (IHIF) Berlin, North America Hotel & Tourism Investment Conference, Asia Pacific Hotel Investment Conference, Asia Pacific Tourism Destination Investment Conference, Brazil Hospitality Investment Conference, Russia & CIS Hotel Investment Conference, Turkey & Neighbours Hotel Investment Conference, HOTEC Design North America and HOTEC Operations & Technology North America; lead generation portal HotelManagement.net; industry news delivery services in print, online and mobile worldwide via IHIF: Hotel Investment News along with Hotel Management and HA+D magazines. www.questex.com.
Caption: Turkey is attracting a complete range of inbound travel markets including business, leisure, MICE, religious, medical, and adventure and extreme sports, according to Trevor Ward, Managing Director, W Hospitality Group.
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NOTE TO EDITORS:
The Turkey & Neighbours Hotel Investment Conference (CATHIC), May 29-30 2013, The Marmara Taksim, Istanbul, Turkey. For details of the conference programme, please visit www.cathic.com.