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Hotels & Holiday Accommodation in Turkey - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

TR-I551 July 2024 Factsheet

Revenue

€6.1bn

2019-2024 21.1 %
2024-2029 X.X %

Employees

146k

2019-2024 0.9 %
2024-2029 X.X %

Businesses

9,578

2019-2024 0.0 %
2024-2029 X.X %

Wages

€XXX.Xm

2019-2024 XX.X %
2024-2029 X.X %

Hotels & Holiday Accommodation in Turkey market size outlook

Total value and annual change from from 2014-2029. Includes 5-year outlook.

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About Factsheets

Industry Statistics and Rankings

How does this industry perform in Turkey compared to Europe?

Country Benchmarking

Industry Data Turkey

Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.

Revenue
#8 In Europe
Business
#13 In Europe
Employees
#6 In Europe
Wages
#12 In Europe

View industry report for Europe

Hotels and short-term accommodation providers in Europe enjoy strong demand due to the continent’s well-developed tourism sector and significant number of holiday destinations that cater to various consumer needs. European residents often holiday domestically or go on trips to other European countries due to how quick and easy it is to travel to them. Rising domestic and international tourism fuelled accommodation demand prior to the COVID-19 outbreak, but travel restrictions then decimated revenue. Revenue is slated to contract at a compound annual rate of 9.5% over the five years through 2024 to €187.9 billion, including an expected 3.2% drop in 2024.

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Enterprises
Number of businesses in 2024

Biggest companies in the Hotels & Holiday Accommodation in Turkey

Company
Market Share (%)
2024
Revenue (€m)
2024
Profit (€m)
2024
Profit Margin (%)
2024

There are no companies that hold a large enough market share in the Hotels & Holiday Accommodation in Turkey industry for IBISWorld to include in this product.

Top Questions Answered in this Report

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What is the market size of the Hotels & Holiday Accommodation industry in Turkey in 2024?

The market size of the Hotels & Holiday Accommodation industry in Turkey is €6.1bn in 2024.

How many businesses are there in the Hotels & Holiday Accommodation in Turkey industry in 2024?

There are 9,578 businesses in the Hotels & Holiday Accommodation industry in Turkey, which has declined at a CAGR of 0.0 % between 2019 and 2024.

Has the Hotels & Holiday Accommodation industry in Turkey grown or declined over the past 5 years?

The market size of the Hotels & Holiday Accommodation industry in Turkey has been declining at a CAGR of 21.1 % between 2019 and 2024.

What is the forecast growth of the Hotels & Holiday Accommodation industry in Turkey over the next 5 years?

Over the next five years, the Hotels & Holiday Accommodation industry in Turkey is expected to grow.

What does the Hotels & Holiday Accommodation in Turkey include?

Economy hotels and Midscale hotels are part of the Hotels & Holiday Accommodation industry.

How competitive is the Hotels & Holiday Accommodation industry in Turkey?

The level of competition is moderate and steady in the Hotels & Holiday Accommodation industry in Turkey.

Related Industries

This industry is covered in 37 countries

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Table of Contents

About this industry

Industry definition

provide daily cleaning, bed-making and other extras, including laundry, parking and food and drink services. The industry also includes short-term holiday accommodation (e.g. holiday villages, vacation homes, hostels and cottages), which provide minimal complementary services, if any. It doesn’t include serviced apartments or apartments for more permanent use. Campgrounds and caravan parks are also excluded.

Related Terms

REVPARAIRBNBHOSTELHOLIDAY VILLAGEONLINE TRAVEL AGENT (OTA)STAYCATION

What's included in this industry?

Economy hotelsMidscale hotelsUpscale hotelsLuxury hotelsVacation homes and apartmentsHoliday villagesHostels, cottages and guesthouses

Companies

Industry Code

ISIC 2006

551 - Short term accommodation activities in Turkey

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Performance

Revenue Highlights

Trends
  • Revenue
  • 2024 Revenue Growth
  • Revenue Volatility

Employment Highlights

Trends
  • Employees
  • Employees per Business
  • Revenue per Employee

Business Highlights

Trends
  • Businesses
  • Employees per Business
  • Revenue per Business

Profit Highlights

Trends
  • Total Profit
  • Profit Margin
  • Profit per Business

Current Performance

Charts
  • Revenue
  • Employees
  • Business
  • Profit
Analysis

What's driving current industry performance in the Hotels & Holiday Accommodation in Turkey industry?


Outlook

Analysis

What's driving the Hotels & Holiday Accommodation in Turkey industry outlook?


Volatility

Analysis

What influences volatility in the Hotels & Holiday Accommodation in Turkey industry?

Charts
  • Industry Volatility vs. Revenue Growth Matrix

Life Cycle

Analysis

What determines the industry life cycle stage in the Hotels & Holiday Accommodation in Turkey industry?

Charts
  • Industry Life Cycle Matrix

Products and Markets

Highlights

Trends
  • Largest Market
  • Product Innovation

Key Takeaways

Increasingly value-conscious consumers support economy hotels. Low consumer confidence and tightening purse strings are boosting demand for budget hotels and other low-cost short-term holiday accommodation like hostels and vacation homes.

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Products and Services

Charts
  • Products and Services Segmentation
Analysis

How are the Hotels & Holiday Accommodation in Turkey industry's products and services performing?

Analysis

What are innovations in the Hotels & Holiday Accommodation in Turkey industry's products and services?


Major Markets

Charts
  • Major Market Segmentation
Analysis

What influences demand in the Hotels & Holiday Accommodation in Turkey industry?


International Trade

Highlights

  • Total Imports into Turkey
  • Total Exports into Turkey
Heat maps
  • Industry Concentration of Imports by Country
  • Industry Concentration of Exports by Country
Data Tables

Value and annual change (%) included

  • Number of Imports and Exports by European Country (2024)

Competitive Forces

Highlights

Trends
  • Concentration
  • Competition
  • Barriers to Entry
  • Substitutes
  • Buyer Power
  • Supplier Power

Key Takeaways

Branded chains expand at the expense of independent businesses. Larger hotel companies, like Accor, Marriot and Hilton, boast significant brand recognition, which helps to attract guests and drive up their market share.

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Supply Chain

Charts

Buyer and supply industries

Geographic Breakdown

Business Locations

Heat maps
  • Share of Total Industry Establishments by Region (2024)
Data Tables
  • Number of Establishments by Region (2024)
Charts
  • Share of Establishments vs. Population of Each Region
Analysis

What regions are businesses in the Hotels & Holiday Accommodation in Turkey located?

Companies

Data Tables

Top 0 companies by market share:

  • Market share (2024)
  • Revenue (2024)
  • Profit (2024)
  • Profit margin (2024)

External Environment

Highlights

Trends
  • Regulation & Policy
  • Assistance

Key Takeaways

Hotels and holiday accommodation providers must adhere to various regulations. Health and safety rules and laws on serving food and beverages contribute to a moderate level of regulation.

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External Drivers

Analysis

What demographic and macroeconomic factors impact the Hotels & Holiday Accommodation in Turkey industry?

Financial Benchmarks

Highlights

Trends
  • Profit Margin
  • Average Wage
  • Largest Cost

Key Takeaways

COVID-19 cuts into profit. Restrictions imposed during the COVID-19 pandemic left accommodation providers unable to generate much revenue, meaning operating costs, like wages and debt, weighed on their returns.

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Cost Structure

Charts
  • Share of Economy vs. Investment Matrix
  • Industry Cost Structure Benchmarks:
    • Marketing
    • Depreciation
    • Profit
    • Purchases
    • Wages
    • Rent
    • Utilities
    • Other
Analysis

What trends impact cost in the Hotels & Holiday Accommodation in Turkey industry?


Key Ratios

Data tables
  • IVA/Revenue (2014-2029)
  • Imports/Demand (2014-2029)
  • Exports/Revenue (2014-2029)
  • Revenue per Employee (2014-2029)
  • Wages/Revenue (2014-2029)
  • Employees per Establishment (2014-2029)
  • Average Wage (2014-2029)

Country Benchmarks

European Leaders & Laggards

Data Tables

Top and boottom five countries listed for each:

  • Revenue Growth (2024)
  • Business Growth (2024)
  • Job Growth (2024)

European Country Performance

Data Tables

Rankings available for 37 countries. Statistics ranked include:

  • IVA/Revenue (2024)
  • Imports/Demand (2024)
  • Exports/Revenue (2024)
  • Revenue per Employee (2024)
  • Wages/Revenue (2024)
  • Employees per Establishment (2024)
  • Average Wage (2024)

Structural Comparison

Data Tables

Trends in 37 countries benchmarked against trends in Europe

  • Concentration
  • Competition
  • Barriers to Entry
  • Buyer Power
  • Supplier Power
  • Volatility
  • Capital Intensity
  • Innovation
  • Life Cycle

Key Statistics

Industry Data

Data Tables

Including values and annual change:

  • Revenue (2014-2029)
  • IVA (2014-2029)
  • Establishments (2014-2029)
  • Enterprises (2014-2029)
  • Employment (2014-2029)
  • Exports (2014-2029)
  • Imports (2014-2029)
  • Wages (2014-2029)

Methodology

Where does IBISWorld source its data?

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.