İstanbul records lowest hotel occupancy rate in 10 years

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Hotel Association of Turkey (TÜROB) has said in a report — based on data from STR Global – that hotel occupancy rates in İstanbul dropped 32 percent in April compared to the same month of last year, hitting 10 years’ lowest of 50.3 percent.

The report also stated that hotel occupancy rates in Turkey also dropped 22 percent in April 2016 and hit 52.2. Turkey’s hotel occupancy rate was 66.9 in April 2015.

The Average Daily Rate (ADR) of hotel room prices in İstanbul saw a 11,8 percent decrease from 130.1 euros to 114.8 euros in April 2016, compared to the same month in 2015. The revenue per available room (RevPAR) also decreased by 40.1 percent in April 2016 to 57.7 euros, compared to April 2015.

Speaking to the press about the fall in hotel occupancy rates, TÜROB President Timur Bayındır stated they do not expect any increase in number of tourists visiting Turkey unless security concerns about the country are not eased.

“The recent occupancy problems are definitely due to security concerns. There will be double-digit declines in the number of tourists arriving [Turkey] over the year, although we cannot predict the exact rate,” Bayındır added.

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