Dubai PR Network, Online Press Release from Dubai and Middle East
(Travel & Tourism)
Filter PR by
Istanbul's Inbound Tourism Riding High

Hotel Room Inventory Pipeline Positions Istanbul In Leading Position

The Turkey & Neighbours Hotel Investment Conference (CATHIC)
May 29-30 2013, Marmara Taksim, Istanbul

ISTANBUL (April 24, 2013) – Hospitality industry experts scheduled to speak at The Turkey & Neighbours Hotel Investment Conference (CATHIC) next month, characterise Istanbul, the host city, as a rapidly growing destination where the hotel development pipeline rivals London.

Istanbul has emerged as the world's fifth top destination, welcoming more than nine million of the roughly 25 million foreign tourists who visited the country last year.

The city saw a 16 per cent increase in inbound arrivals last year over 2011, fuelling the call for more capital investment in infrastructure, facilities, airline and rail networks as well as a range of accommodation options. Room demand rose 8.9 per cent in 2012 while supply increased at just 4.6 per cent, according to STR Global.

Elizabeth Randall Winkle, STR Global managing director, said there are more than 5,000 hotel rooms in the development pipeline. She is one of several industry experts scheduled to discuss hotel development in Turkey during CATHIC, which will be held May 29-30 at The Marmara Taksim in Istanbul.

“If we look at the number of pipeline rooms as a percentage of existing inventory, we can see that at 15 per cent Istanbul looks to be the front-runner, with London coming in a close second with 14 per cent,' she said. 'However, London's current room supply already stands at three times that of Istanbul for double the number of foreign visitors.”

Another expected CATHIC speaker, Defne Gezen, vice president of Jones Lang LaSalle, said Istanbul is on its way to becoming an important international financial centre, paving the way for a surge in business traffic, as well as a tourism capital and a destination for events.

A third airport is planned for Istanbul, which is expected to further expand arrivals and, with it, more investment.

Ongoing initiatives including Istanbul's bid to host the 2020 Olympic and Paralympic Games also has strengthened the city's appeal as a new global destination. The city already is a favourite location for TV series, documentaries, commercials and movies.

Istanbul will be the subject of a panel discussion at this year's CATHIC to discuss room supply and performance and whether current momentum is sustainable and returns are sufficient to support new supply, among other issues.

The Focus on Istanbul session will feature Elif Balci Fisunoglu, general manager of the Istanbul Convention & Visitors Bureau; Murat Yilmaz, senior director, acquisitions & development, central & Eastern Europe, for Starwood Hotels and Resorts Worldwide; and Serra Arikok, coordinator of Tourism Investments for the Demsa Group.

CATHIC speakers also will include Marty Kandrac, Blackstone managing director; Eric Danziger, Wyndham Hotel Group president & chief executive officer; Geoffrey Breeze, World Travel & Tourism Council executive director; Wolfgang Neumann, The Rezidor Hotel Group president & chief executive officer; and Mehmet Önkal, BDO managing partner.

CATHIC is co-organised 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.

Posted by : Dubai PR Network Editorial Team
Viewed 16122 times
PR Category : Travel & Tourism
Posted on : Saturday, April 27, 2013  1:02:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : Every Guest to Be a VIP at Boutique 7 Hotel & Suites
Next Story : Location Solutions signs strategic distributor partnerships ...
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
HONOR MagicBook Series is Perfect for Fashion Forward, Design Conscious Individuals Across... [4670-Views]
Vatika Launches Natural Hair Food, an Effective Solution for Dry Hair [3268-Views]
Omega Announces Its Role as the Official Timekeeper of the 36th America's Cup [3173-Views]
Foreo Reveals 5 Ways to De-Stress Your Skin [3165-Views]
DTTAG New Executive Committee to Manage Post Covid 19 Return to Normalcy of Travel [3091-Views]
The Best Omega Sunglasses For a Long-Awaited Summer [2899-Views]
Emirates Post Unveils Modern New Website and Look [2677-Views]
Ethical JLT Salon THT is Supporting those whose Jobs have been affected during COVID-19 w... [2640-Views]
Urgent Implementation of ICAO COVID-19 Guidelines Needed [2628-Views]
FEM Collaborates with Arab Comedian Maya Acra to Address the Taboo Around the Topic of Hai... [2526-Views]
Sony Middle East & Africa Introduces New Digital Camera ZV-1, designed for Vlogging in the... [2472-Views]
Karl Lagereld Drives Digital Innovation With Launch of the “Maison Karl Lagerfeld” Game. [2448-Views]
Innovating to Fight COVID-19: Four Ways Drones are Contributing [2398-Views]
Blue Ocean for Islamic Finance Industry [2394-Views]
Commodity Weekly: Crude Oil Frets Geopolitics, Sluggish Demand Bounce [2259-Views]
Ericsson's USA 5G Factory: Staffed by Professionals – Trained by VR [2165-Views]
Airline Debt to Balloon by 28% [2116-Views]
The Ultimate At-Home Facial [2066-Views]
Twentieth “World Milk Day” Sees NFPC Innovate With New Products That Meet Changing Consume... [1960-Views]
Parmigiani Fleurier Toric Fleur [1960-Views]
Al Tayer Motors and Premier Motors Honour UAE's COVID-19 Frontline Heroes [1960-Views]
80th Anniversary of Maserati's Targa Florio Victory Maserati Tests an Mc20 Prototype on th... [1935-Views]
Sony Middle East and Africa and Gearbox team up to offer rental services of latest digital... [1915-Views]
WTTC Launches Safe Travels Protocols for Aviation, Airports, MICE and Tour Operators [1902-Views]
Tips for Keeping Your Smartphone Clean [1870-Views]
RSS Facebook Twitter LinkedDin
Top Sections
Top Stories