Zirve Eki - ISTANBUL REstate

Türkiye‘nin
Yüksek Potansiyel
Sahibi ‹kincil fiehirleri
Claudia Glück
PKF hotelexperts, K›demli Dan›flman
Okay, well, good afternoon to those of you who have left. I am
very glad to be back on stage here after last year now for the
second edition of Istanbul REstate. My name is Claudia Glück. I am
currently employed with PKF Hotel Experts as a senior consultant.
I would like to give a very brief introduction, I will keep it short
because we are already running over time, on the ensuing panel
of hotel development opportunities in secondary Turkish cities.
Now the first question is what is a secondary city? I would assume
for most Turkish people, the capital city of my home country
Austria, Vienna which is currently approximately 1.6 millions
inhabitants might already be considered a secondary city. Now,
when I did some research about Turkey, I was surprised about the
number of large cities, cities with more than 500 thousand
inhabitants. What would be your guess? How many cities are there
in Turkey with more than half a million people? 35, 10, 32? It is
almost 40, so there are 39. You can see them here. So there is of
course Istanbul, the largest, by far the largest city. The only one
with more than 5 million inhabitants then they are about 18 or
there are 18 which have a population between 1 million and 5
million. And then there are 20 more cities which have between
500 thousand and 1 million inhabitants. Coming to the infrastructure
regarding tourism, the most important airports are currently Istanbul
Atatürk, Antalya, Ankara, Izmir and Dalaman. And we also have
to stress the fact that the second airport in Istanbul is gaining more
and more importance. Now Turkey with its large coastline actually
has a lot of harbors and ports whereby Istanbul and Kufladas›, and
I hope I pronounced it correctly, are the most important ones
currently for cruise lines. We have to apologize because it is very
small. I would just like give you a short summary and general
economic data. So basically the population in Turkey is overall
increasing and also expected to further increase in the upcoming
years. Inflation has already considerably decreased and is expected
to further decrease. So with the growing GDP, the only chronic
problem Turkey has to deal with is unemployment, which is currently
at about 14%. When we take a look at recent tourism developments,
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16-17 Haziran 2010
the development of bed capacity and I find this chart very interesting,
the total pie shows us the current bed capacity overall in Turkey,
which is at about 570 thousand beds, and then you see the entries
by period. So more than 2/3 of current hotel supply has been added
in the past 10 years. The development has been specifically strong
starting from the 1980s. Turkey has seen 3 phases over the past
decades of tourism development, with the first boom starting in
the 1980s when the government started to grant land allotments
and incentives for tourism and particularly hotel developments. The
development was a bit slowed down in the 90s due to the Gulf
War and the economic crisis but definitely since the new millennium,
Turkey is facing a boom in its tourism development with new charter
flights, increased spending in development, management and
development destination marketing. And also capital shifts from
other more historic industry sectors towards the tourism industry.
Turkey is now also offering new offers, for example golf tourism,
wellness, health related tourism and mass tourism. When we take
a look at the tourism data overall in Turkey, Turkey has seen an
increase of about 20% in the arrivals between 2004 and 2008.
And I have to apologize because 2009 data was not yet available.
And 9% increase in hotel supply whereas in Istanbul the hotel
supply was at 15%, an increase of 15% within the same time period
which shows that it is a particularly dynamic market. The average
length of stay naturally in Istanbul with 2 nights in average is a bit
shorter than in Turkey overall with all the resort destinations of
about 3 nights on average. This chart depicts graphically what I
have just been mentioning so the development of Turkey overall
in the past 10 years. So we see a constant growth in number of
properties and particularly the average number of beds per hotel
has been constantly increasing which reflects the large resort
developments on the coastlines. Demand overall has increased with
some fluctuations which are mostly due to political incidents, also
economic crisis but overall we can see an increase. And in Istanbul
the development is mostly the same with a constant increase in