Holidaymakers' route is Turkey: Turkey ranks fourth in hotel investments, Istanbul second

In the distribution of new hotel projects by city in Europe, London leads with 76 investments, while Istanbul follows in second place with 50 new hotel investment projects. In the ranking among countries, Turkey is in 4th place.

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Holidaymakers' route is Turkey: Turkey ranks fourth in hotel investments, Istanbul second

New hotel investments continue in Europe and Turkey. As of the first half of this year, 418 new hotels with a total capacity of 64,835 rooms are being built in Europe. Turkey ranks fourth among the countries with the most new hotel construction in Europe.

According to data from Lodging Econometrics' (LE) Q2 2024 Europe Hotel Construction Pipeline Trend Report, the United Kingdom ranks first in new hotel investment with 306 projects. It is stated that the UK is followed by Germany with 178 projects and France with 120 projects, while Turkey ranks fourth with 117 projects. A total of 354 new hotel and tourism investment projects are expected to be realized in Turkey by 2026.

LONDON RANKS FIRST WITH 76 PROJECTS

According to the report from Ekonomim, London ranks first in the distribution of new hotel investments by city with 76 projects, followed by Istanbul. Istanbul ranks second on the list of European cities with 50 new hotel investment projects. The report states that there were a total of 755 hotel projects with a capacity of 115,300 rooms across Europe last year, while in the first half of this year, there were 418 new hotel investment projects with a total capacity of 64,835 rooms.

The report also notes that in addition to new hotel investment projects, renovation investments in hotels have been accelerated, with renovations underway in 825 facilities with a total capacity of 95,519 rooms across Europe. Meanwhile, 128 new hotels opened across Europe in the first half of the year, and with 202 more hotels expected to be added in the second half, the total number of newly opened hotels in 2024 is projected to reach 330.

In the meantime, 100 new 4 and 5-star hotels are expected to enter service across Turkey in the 2025-2026 period, and 354 new hotel and tourism investment projects are expected to be realized by 2026.