The growth of hotel construction in Istanbul
Published on 15/05/2015
The construction of the Istanbul New Airport - set to be the largest in Europe once it opens in 2017 - is just one sign of the growing tourism industry in Turkey and the positive effects it is having on construction. The airport will eventually be able to service 150 million passengers per year, all of whom will need somewhere to stay while in Istanbul.
As such, the hotel building industry has seen a significant increase in work as more and more rooms are needed to accommodate the growing number of tourists. Several major hotels are already under construction, and more have been announced for the coming years. Here is a guide to the current state of hotel construction in Istanbul:
Why Istanbul?
The reason behind this boom in hotel construction is partly tourism, with Turkey becoming a more popular holiday destination. It is third in the world for number of blue-flagged beaches, and has been considered one of the top ten holiday destinations since 2005. In the first quarter of 2015, tourism brought in around $4.87 billion to Turkey's economy.
However, this is not the only reason for the nation to be constructing so many hotels. Istanbul in particular is becoming more of a financial hub, attracting international businesspeople, and Turkey is encouraging this with the construction of the Istanbul International Finance Centre (IIFC).
The $2.6 billion project will see almost 4.2 million sq m of office, residential, retail, conference, hotel and park space constructed in the heart of Istanbul. It will become the location for the head offices of several of Turkey's most important financial institutions, including banks and governing bodies. It is hoped this will bring more and more businesspeople to Istanbul from overseas.
Park Inn By Radisson
One of the most recent announcements in this area has come from international hotel group Carlson Rezidor, which revealed that it will be constructing two new hotels in Istanbul. This will bring the group's total number of hotels in the city to ten, and the total in Turkey to 17.
The Park Inn by Radisson Hotel and Residence Istanbul Odayeri will be located just five km away from Istanbul New Airport once it has been completed, on the European side of Istanbul. The construction will include 98 guest rooms, a restaurant and bar, two meeting rooms, a spa including hammam, sauna and indoor pool, and a gym.
Meanwhile, the Park Inn by Radisson Istanbul Atasehir will be constructed in Asian Istanbul in the district of Atasehir, which will soon be home to the IIFC. It will be the smaller of the two projects, containing 80 guest rooms, a restaurant and bar, two meeting rooms, and a gym.
Both of these hotels are scheduled to open in 2016. Wolfgang M Neumann, president and chief executive of Carlson Rezidor, said: "Turkey is a key focus country for us where we want to grow further together with experienced partners. Park Inn is… set for a fast development in Istanbul and further destinations across the country."
Fairmont Quasar
Another hotel set to open in Istanbul in 2016 is Fairmont Quasar, which will become a part of the city's Quasar Istanbul mixed-use development. Two towers are currently under construction, which will house the hotel along with Fairmont Residences and Quasar Residences.
Each tower will be 41 storeys tall once construction is complete, and will be located atop a four-storey podium of offices, fitness facilities and stores. In total, the hotel will contain 210 rooms along with 2,000 m of function space and a spa. A number of lounges and restaurants are also set to be constructed.
Mondrian Istanbul
Morgans Hotel Group is opening a hotel in late 2015 in the heart of Istanbul's old city, close to landmarks such as the Hagia Sofia and the Topkapi Palace. The 128-room Mondrian Istanbul hotel will include bars, restaurants, meeting and conference spaces, and a spa renovated from the remains of an old Turkish bath.