Press Release

25 Jan 2012

Turkey’s RevPAR one of the strongest in Europe; Flexible Lira and increasing rooms see Istanbul remain as regions’ tourism hot spot

Istanbul, Turkey December 2011: Istanbul looks poised to enjoy a period of exponential growth in terms of revenue per available room (RevPAR) and daily rate (ADR), accordingly to Jonathan Worsley, Chairman of Bench Events, co-organiser of the Central Asia and Turkey Hotel Investment Conference (CATHIC).

Reports reveal year-to-date performance up to September 2011 of ADR growth of 34 per cent and RevPAR of 29 per cent[1]. Meanwhile, other reports suggest Istanbul is the third-fastest growing tourist destination in terms of visitor numbers, surpassing New York and Amsterdam with most visitors travelling from Saudi Arabia, Iran and UAE closely followed by the United States and Europe.

Worsley said that industry figures show Turkey as the hot spot of the region and sitting high on many ‘Top Destinations 2012’ guides.

Quoting figures by STR Global, Worsleysaid that the hotel infrastructure in Turkey has undergone development, with an addition of 1,868 hotel rooms since 2011.

“After a period of economic lull, Turkey is experiencing steady positive GDP growth. At the same time,  the Turkish Lira’s flexibility against the Euro and US Dollar is very reassuring to the overall hospitality industry.” concluded Worsley.

The Central Asia & Turkey Hotel Investment Conference will run from February 6 -8, 2012 at Ceylan Intercontinental, Istanbul and is organised by Bench Events. The conference features a cast of speakerswith knowledge and expertise in regional and international hotel development, finance, hotel branding and operations, plus sessions giving perspectives from industry analysts. 

Speakers include Cevdet Akcay, Chief Economist, Yapi Kredi Bank; Denis Hennequin, President & CEO, Accor SA; Eric Danziger, President & Chief Executive Officer, Wyndham Hotel Group; Angela Brav, Chief Executive Officer – Europe, IHG; Kurt Ritter, President & CEO, The Rezidor Hotel Group; Atilla Ozturk,  CEO & Board Member, ASTAY; Serdar Bilgili, Chairman, Bilgili Holding; Simon Vincent,

President - Europe, Hilton Worldwide; Roeland Vos, President EAME, Starwood Hotels & Resorts Worldwide; and Lado Sakvarelidze, Chief Financial Officer, Redix.

The event also offers various networking opportunities, as well as an exhibition. Details can be found on www.cathic.com.