Russian sanctions hit Turkey's tourism industry

[Scunner]

Over 1,300 Turkish hotels along the Mediterranean coast have been listed for sale as Russian sanctions and security concerns shake the country's tourism industry.

The total sale price of the hotels on offer is close to 38.8 billion Turkish liras ($13.1 billion).


http://www.yellali.com/news/article/242/russian-sanctions-hit-turkey-s-tourism-industry

[IanK]

Whilst I'm sure it has had an big impact, I'm not convinced this is all down to Russian sanctions.

We have been heavily affected from the jet crisis. Especially the hotels in Antalya, being closed for the last four months, most of those are on the verge of bankruptcy,

Its now just 2 months since the sanctions were announced I believe?

Ian

[JohnF]

Whilst I'm sure it has had an big impact, I'm not convinced this is all down to Russian sanctions.

You're right, it's not entirely due to the sanctions relating to Russian tourists but the fact they'll have have thousands of bookings, both block and individual, cancelled over the past few months is probably the straw that broke the camels back after a relatively poor season last year.

Many hotels close over the Winter but have cash coming in in the form of deposits and advance payments for accommodation.  I suspect many rely on this small amount of money to get their places ready for the summer and those that don't probably get loans from the banks (on the basis that they can show sufficient advance bookings) to get started.

That section of coast further East from Fethiye relies heavily on Russians, Germans and Scandinavians - the Russians ain't coming, the Germans are cancelling in their droves (after Istanbul bombing) and who knows about the Scandi's.

Going off on a slight tangent, the cruise lines are bailing from Turkey as well - several have dropped Turkish ports from their itineraries and thats going to affect just as many smaller businesses as the absence of Russians in Antalya will affect hoteliers.  Ironically, the smaller bars and restaurants in Antalya/Alanya probably wont see much difference, Russians are viewed as poor spenders and rarely eat outside their AI hotels.

JF

[blueclad]

they must have hard times in Antalya in the hotels in this area, I know its winter time but Thomas Cook have 7 nights all inclusive 4/5 star hotels from Gatwick next week for as little as £ 131 per person  flights / hold bags  plus A I  food / drinks and transfers. cheapest flight I can find is £88 each , so quite a bargain with Thomas Cook , no one will make any money I don't think

we fancy a break before my big  hospital leg operation very soon ,  just got to check the weather forecast.
that it will be good weather day times [ nights we will be in the bar  ].

Ron

[teetee]

My OH's company had planned to hold its annual sales conference in Antalya as it did last year over 2 consecutive weeks and two parts of the business, with an estimated attendance of about 300 people in total.

In the last week all those who were attending have been advised that this has been cancelled and an alternative location is being arranged.

I can say that wherever the booking was made had lost a considerable amount of money and this wasn't and AI hotel either.

Just one of many I suspect and I get the feeling that it was not just because it is a German country as all of the European office would have been involved asked their opinion.

[savoyboy]

What unlucky country Turkey is when it comes tourism.
  Midnight Expess,money problems and it just goes on and on.

[KKOB]

Never mind. The Turkish shoebox industry is booming.