TÜROB President Müberra Eresin: Hotels have occupancy but are experiencing revenue issues

During an informational meeting organized by the Türkiye Hoteliers Association, it was announced that hotel occupancy rates surpassed those of the previous year as of August. However, it was emphasized that rising costs and sideways-moving exchange rates have negatively impacted revenues.

Latest Situation in Hotel Occupancy Rates

Türkiye Hoteliers Association President Müberra Eresin shared the latest data regarding hotel occupancy rates with the public. She stated that due to wars, unrest, and various international events, occupancies had not progressed at the desired levels until August.

Previous Years Caught Up in August

Stating that data from the previous year was surpassed for the first time this year as of August, Müberra Eresin expressed that according to TÜROB data, the occupancy rate was observed at the level of 76.56 percent.

STR-COSTAR Platform Data

Expressing that according to the STR-COSTAR platform, which predominantly relies on data from five-star hotels, the occupancy rate was 73.8 percent, Eresin noted that overall occupancy rates for the January-August period also reached certain levels.

Downward Trend in Room Rates

Stating that the average hotel price in Istanbul in August was 103.82 euros, Müberra Eresin conveyed that prices, which were 103.82 euros in the January-August period of last year, receded to 97.5 euros in the same period this year.

Revenue and Profitability Problem

Stating that there is no serious problem with occupancy due to stable exchange rates, the inflationary structure, and falling room rates, Eresin expressed that the main issue that needs attention is revenues.

Istanbul Hotel Prices Low by World Standards

Istanbul Chamber of Commerce President Şekib Avdagiç, on the other hand, stated that hotel prices in Istanbul are low compared to the world, argued that prices should be pulled up, and drew attention to the exchange rate and inflation correlation.