Major hotels eye development in Turkey

Attendees speaking on the Horwath panel at the Central Asia and Turkey Investment Conference (CATHIC) singled out Turkey as an up and coming market for hotel brands.

Representatives from Accor, Starwood, Wyndham and Capital Partners said earlier this month that Turkey is a viable destination for investment.
While Kazakhstan and Georgie were selected as targets for potential growth, particularly for the midscale brands Ibis, Four Points, Aloft, Ramada and Ramada Encore.

“This represents great news for current and potential investors as they aim to tap into a relatively underdeveloped but fast growing group of markets,” Horwath managing director Michael O’Hare said representatives from major hotel brands said.

“Sochi and the Olympic development have focussed attention on the region, and other areas are reaping the benefits of this as operators and investors seek to add critical mass to existing projects.”

Mr O’Hare added that the panel with Accor, Starwood, Wyndham and Capital Partners demonstrated that the recession is passing.

“Despite the ravages of the global recession one cannot ignore the huge imbalance of supply and demand that continues to prevail in the region and therefore presents excellent opportunities for development going forward as the world economy improves.”
Source = e-Travel Blackboard: N.J
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