Foreign Brands Continue to Invest in Turkey

The Marriot International & Starwood Group, which became the largest hotel chain in the world with the 12.2 billion dollar acquisition undertaken last year, is getting ready to open 5 new Four Points by Sheraton hotels in Turkey, together with Er Yatırım (investment). The first of the Four Points by Sheraton hotels is to go into service in Izmir, in March 2017. This will be followed by hotels in Istanbul Kağıthane and Gebze in 2018 and Istanbul Kartal and Ataşehir in 2019. The investments, which will cost a total of 400 million dollars, will also create employment for close to 1000 people.

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Er Investment Ferzan Celikkanat

Foreign nationals are very eager

Ferzan Çelikkanat, the Managing Director of Er Yatırım, who stated that there was a trend to bring the 3-4 star brands to Turkey as well as the top-end brands of the global giants of tourism, and that the trend of investments in city hotels would continue, said that foreign investors would not abandon Turkey.

Çelikkanat said, “Foreigners are very eager to invest in Turkey. With the new investor profile, the tourism sector will be the locomotive of Turkey and Turkey will come out of the crisis with tourism. What we need to do in tourism is to diversify the market. With the axis of the world moving towards the east, we also need to turn towards the markets outside Europe.”

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