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Hotels in Antalya and Istanbul Suffer From Lowered Occupancy
This year is full of challenges for hospitality industry of Turkey. Local hotels suffer from tensions with Russia, the failed coup and terror attacks. Hotels in Istanbul suffered the most from the unfavorable situation. In July 2016, the occupancy fell down to as low as 36.8%. The average occupancy of hotels in Turkey decreased by 33.5% to 41.5% in July 2016 according to the information published by TUROB (Turkish Hotels Association).
Hotels in Istanbul feature the drop of occupancy of almost 26% in year-to-year comparison. In July 2015 the recorded occupancy was 62.1%. Hotels in Antalya suffered a big drop as well, but the occupancy remains relatively high. In July 2016, it estimated 60.3%, down by 21.9% if compared to July 2015.
According to the data provided by STR, Istanbul hotels feature the highest drop of occupancy among all European destinations. They also suffer from the lowest occupancy rate. Naturally, average daily rate (ADR) has become lower as well. In July 2016, ADR estimated 89 euro, which is 31.4% below the result of July 2015, when it was 129.70 euro. These factors made revenue per available room (RevPAR) go down as well and reach a double digit decline. In July 2016, RevPAR estimated 32.80 euro, which is 59.3% below the result a year ago (80.40 euro).
In the period of the first seven months of 2016, Istanbul hotels had their occupancy go down from 65.8% (Jan-Jul 2015) to 47.3% (Jan-Jul 2016), ADR dropped from 122.70 euro to 96.80 euro, and RevPAR decreased from 80.60 to 45.80 euro.
Antalya hotels, as well as neighbor districts, also suffered from declines in all key metrics. The occupancy dropped from 77.3% in July 2015 to 60.3% in July 2016, ADR dropped by 24.6% (from 184.90 euro to 139.40 euro), and RevPAR decreased by 41.2% (from 142.90 euro in July 2015 to 84.19 euro in July 2016). The 7 month statistics is similar and only proves that the negative trend is long-lasting.
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