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Istanbul and Antalya hotels suffer record falls in occupancy and revenues

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Turkey’s hospitality industry statistics shows the effects of tensions with Russia, terror attacks and the failed coup. Istanbul hotels are the most suffered as the occupancy rate drops below 40% in July 2016. Turkish Hotels Association – TUROB said that the average occupancy at Turkish hotels in July 2016 dropped 33.5% to 41.5% compare to same month last year.

Istanbul, which recorded 62.1% occupancy rate in July 2015, registered 36.8% in July 2016; a drop of 40.6%.

Meanwhile in Antalya, occupancy rate is dropped 21.9% to 60.3% in July 2016.

According to STR Turkey Hotel results, Istanbul has the highest drop and lowest occupancy rate in all European destinations. Istanbul’s Average Daily Rate (ADR) also dropped to €89; 31.4% drop compare to July 2015. Istanbul’s ADR in July 2015 was €129.70.

Revenue per available room (RevPAR) also dropped double-digit 59.3% to €32.80. Istanbul’s RevPAR in July 2015 was €80.40.

In the period of the first 7 months,
Occupancy rate dropped from 65.8% in Jan.-July 2015 to 47.3% in Jan.-July 2016
ADR dropped from €122.70 to €96.80, and
RevPAR dropped from €80.60 to €45.80.

At hotels in Antalya and neighbour districts, hotel occupancy rates dropped 21.9% to 60.3% in July 2016. Hotel occupancy rate in July 2015 was 77.3%. ADR recorded €139.40; a drop of 24.6%. ADR was €184.90 last year. RevPAR dropped 41.2% to €84.10. RevPAR in July 2015 was €142.90.

In the period of the first 7 months,
Occupancy rate dropped from 57.2% in Jan.-July 2015 to 51.3% in in Jan.-July 2016
ADR dropped from €106.20 to €77.50, and
RevPAR dropped €60.70 to €39.80

https://www.lduhtrp.net/1274xjnbhf09A18548024444151

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