Turkey’s hotels saw Europe’s fastest rise in hotel occupancy rates in 2017 but still suffered big revenue loss
Turkey’s hoteliers witnessed a large increase in hotel occupancy rates in 2017, becoming the fastest in Europe, but also suffered big revenue loss due to low hotel room prices, a fresh report has shown.
According to STR Global data, which was released by the Hotel Association of Turkey (TÜROB) on Jan. 31, hotel occupancy rates across Turkey rose to 60.2 percent last year with an 18 percent year-on-year increase, the fastest in its kind in Europe.
Hotel occupancy rates in Istanbul soared to 62.6 percent in 2017 with a 26 percent year-on-year increase and to 59.8 percent in Antalya with an 11.5 percent year-on-year increase, according to the STR Global data.
But despite this positive development, the sector also faced a big loss in revenue due to cheap room prices with a 12.4 percent decrease in 2017 compared to the previous year, being at 66.8 euros on average.
“We may reach double-digit increase in foreign arrivals this year. We, however, cannot expect that significant rise in room prices. We need to focus on developing strategies that will hike these prices,” he noted.