In July, the Turkish Hoteliers' Association noted that hotel investments in Turkey had fallen 42 percent for the first five months of 2015 year-on-year. But as the year has progressed, international brands are expanding their outreach, including Hilton, Starwood (with its Sheraton brand), Carlson Rezidor, Wyndham and Raffles. The brands, as research group TopHotelProjects notes, rely on mix-used projects—including residences (serviced apartments), shopping malls and offices.
Today, Turkey's hospitality sector is reportedly at an all-time high, with 75 new projects (covering 12,968 rooms) currently in the pipeline. Istanbul currently has more than 800 properties and 50,000 rooms, but Bodrum, Cesme and Izmir are also seeing development, Turkish news site FTNNews notes.
Some of the most recent hotel developments include:
· Caresse, a Luxury Collection Resort & Spa’s recent debut marked the entry of both Starwood and The Luxury Collection brand into Bodrum. Starwood Hotels and Resorts Worldwide has also signed an agreement with Cevahir Yapi Sanayi Turizm ve Ticaret A.S. to open a new Sheraton hotel in Istanbul next month. The Sheraton Istanbul Atasehir will be located in the Atasehir district, a business and trading center located connecting the Asian and European sides of Istanbul.
· UAE-based Rotana opened the Burgu Arjaan by Rotana and the Tango Arjaan by Rotana in Istanbul, its first properties in Turkey, for a combined total of 319 rooms last month. Looking ahead, the Dalga Residences is scheduled to open by the end of 2015, while Vazo Residences is set to open in the first quarter of 2016.
· The American spa brand Canyon Ranch is going international with the July 2016 debut of Canyon Ranch Wellness Resort at Kaplankaya on the Turkish Rivera near the city of Bodrum. Barcelona-based architectural firm OAB is behind the design.
· Carlson Rezidor has announced the Radisson Blu Hotel, Istanbul Ataköy. The property, scheduled to open in early 2016, will be the ninth Radisson Blu in Istanbul.
· Hilton Garden Inn Izmir Bayrakli is expected to open on November 15 in Izmir’s commercial area.
· In Cesme, Morgans Hotel Group is set to open the Delano Cesme Hotel in 2017.