Istanbul becomes a hot place despite the threat of a new economic crisis in the region. The data provided by STR Global shows that both ADR and RevPAR levels increase comparing to September 2010. This trend is very optimistic and encouraging for hoteliers. Comparing to 2010, each day hotels in Istanbul sell 1,868 more rooms.
Turkish economy has finally reached positive GDP growth, but many things are yet to be done to bring the country to its pre-recession level.
One of the reasons of improved hotel performance may be the fact that Istanbul was the European City of Culture in 2010. This increased interest to the city has attracted some big names and famous hotel brands. Istanbul is a place with a unique location on the crossing of Europe, Asia, and the Middle East. Its special atmosphere and unique heritage helped the city to become mentioned in world’s top 10 destinations for Conference and Incentive events.
These are not only achievements of this city. Istanbul is also known as the third-fastest growing tourist destination in the world. In 2010 the growth of the number of tourists coming to Istanbul estimated 30.1%. Istanbul managed to overcome such popular destinations as Amsterdam and New York.