Istanbul’s Inbound Tourism Riding High
Hotel Room Inventory Pipeline Positions Istanbul In Leading Position
The Turkey & Neighbours Hotel Investment Conference (CATHIC)
May 29-30 2013, Marmara Taksim, Istanbul
ISTANBUL (April 24, 2013) – Hospitality industry experts scheduled to speak at The Turkey & Neighbours Hotel Investment Conference (CATHIC) next month, characterise Istanbul, the host city, as a rapidly growing destination where the hotel development pipeline rivals London.
Istanbul has emerged as the world’s fifth top destination, welcoming more than nine million of the roughly 25 million foreign tourists who visited the country last year.
The city saw a 16 per cent increase in inbound arrivals last year over 2011, fuelling the call for more capital investment in infrastructure, facilities, airline and rail networks as well as a range of accommodation options. Room demand rose 8.9 per cent in 2012 while supply increased at just 4.6 per cent, according to STR Global.
Elizabeth Randall Winkle, STR Global managing director, said there are more than 5,000 hotel rooms in the development pipeline. She is one of several industry experts scheduled to discuss hotel development in Turkey during CATHIC, which will be held May 29-30 at The Marmara Taksim in Istanbul.
“If we look at the number of pipeline rooms as a percentage of existing inventory, we can see that at 15 per cent Istanbul looks to be the front-runner, with London coming in a close second with 14 per cent," she said. "However, London’s current room supply already stands at three times that of Istanbul for double the number of foreign visitors.”
Another expected CATHIC speaker, Defne Gezen, vice president of Jones Lang LaSalle, said Istanbul is on its way to becoming an important international financial centre, paving the way for a surge in business traffic, as well as a tourism capital and a destination for events.
A third airport is planned for Istanbul, which is expected to further expand arrivals and, with it, more investment.
Ongoing initiatives including Istanbul’s bid to host the 2020 Olympic and Paralympic Games also has strengthened the city’s appeal as a new global destination. The city already is a favourite location for TV series, documentaries, commercials and movies.
Istanbul will be the subject of a panel discussion at this year's CATHIC to discuss room supply and performance and whether current momentum is sustainable and returns are sufficient to support new supply, among other issues.
The Focus on Istanbul session will feature Elif Balci Fisunoglu, general manager of the Istanbul Convention & Visitors Bureau; Murat Yilmaz, senior director, acquisitions & development, central & Eastern Europe, for Starwood Hotels and Resorts Worldwide; and Serra Arikok, coordinator of Tourism Investments for the Demsa Group.
CATHIC speakers also will include Marty Kandrac, Blackstone managing director; Eric Danziger, Wyndham Hotel Group president & chief executive officer; Geoffrey Breeze, World Travel & Tourism Council executive director; Wolfgang Neumann, The Rezidor Hotel Group president & chief executive officer; and Mehmet Önkal, BDO managing partner.
CATHIC is co-organised by Bench Events and Questex Media, which also manages the Russia and CIS Hotel Investment Conference, Arabian Hotel Investment Conference, International Hotel Investment Forum Asia Pacific and International Hotel Investment Forum Berlin.
Platinum sponsors: BDO and Wyndham Hotel Group
Gold sponsors: ACCOR, Argentina Ministry of Tourism, Carlson Rezidor Hotel Group, Dedeman Hotels & Resorts International, European Golf Design, Hilton Worldwide, Horwath HTL, InterContinental Hotels Group (IHG), Jones Lang LaSalle, Marti Istanbul Hotel, Premier Inn Development, Quadriga, RIXOS Hotels, Servotel Corporation, Starwood Hotels & Resorts Worldwide, Inc, STR Global, The Marmara Collection and WATG.
Supporters: Cornell School of Hotel Administration, DEIK (Foreign Economic Relations Board), EHL, SKAL (Skal International Istanbul Club, TMB (Turkish Constructors Association), TUROB (Touristic Hotels & Investors Association), TYD (Turkish Tourism Investors Association) and World Travel & Tourism Council
Media partners: Destinations of the World News, Europroperty, Gayrimenkul Turkiye, Global Hotel Network, Hotel Management, Hotel Analyst, HotelNewsNow.com, Networking Turkey, Oxford Business Group, PFD, REIDEN.com, Sleeper, The Business Year, Travel & Tour World, TTG MENA and YourBusinessChannel.
The Turkey & Neighbours Hotel Investment Conference (CATHIC), May 29-30 2013, The Marmara Taksim, Istanbul, Turkey. For details of the conference programme, please visit www.cathic.com.
CATHIC is co-organised by Bench Events and Questex Media, who also organise the Russia and CIS Hotel Investment Conference, Arabian Hotel Investment Conference, International Hotel Investment Forum Asia Pacific and the International Hotel Investment Forum Berlin.
About Bench Events
Bench Events has a long track record in hosting the premier hotel investment events in Europe and the Middle East. Bench Events’ Chairman, Jonathan Worsley, is one of the organisers and founders of the highly successful International Hotel Investment Forum now in its fourteenth year (www.berlinconference.com). In 2005, he was responsible for launching the Arabian Hotel Investment Conference in Dubai (www.arabianconference.com); in 2008 launched the Russia & CIS Hotel Investment Conference (www.russia-cisconference.com) and in 2011 launched the Turkey & Neighbours Hotel Investment Conference (www.cathic.com). Bench Events’ sister company, JW Bench, is a benchmarking company that has successfully launched the Conference Bench and the Productivity Bench. An industry first, the Conference Bench, measures performance data for conference and banqueting space in hotels 10 cities throughout Europe and the Middle East. www.benchevents.com
About Questex Media Group LLC
Questex Hospitality + Travel, the largest multimedia organization in the world dedicated to hospitality and travel, drives revenue, productivity and value creation for these related industries through strategic investment and deal-making forums, powerful lead-generation tools, interactive online business solutions, world-class events and industry-leading publications.
Questex Hospitality + Travel operates throughout the United States and Americas regions, EMEA and Asia/Pacific through a variety of market-leading properties and services including International Hotel Investment Forum (IHIF) Berlin, North America Hotel & Tourism Investment Conference, Asia Pacific Hotel Investment Conference, Asia Pacific Tourism Destination Investment Conference, Brasil Hospitality Investment Conference, Russia & CIS Hotel Investment Conference, Turkey & Neighbours Hotel Investment Conference, HOTEC Design North America and HOTEC Operations & Technology North America; lead generation portal HotelManagement.net; industry news delivery services in print, online and mobile worldwide via IHIF: Hotel Investment News along with Hotel Management and HA+D magazines.