While hotel investments continue unabated in Turkey, which has broken records in tourism income and the number of tourists, the number of hotels that are foreclosed due to their debts continues to increase day by day. Hotels that cannot pay their debts to banks and companies are going into foreclosure.
According to information compiled by Tourism FM, the news radio of the tourism sector, from the data compiled by the Press Advertisement Agency (BİK), 14 hotels of different sizes and statuses in different regions of turkey were put up for sale in the first two months of 2024. This is happening at a time when banks are restructuring the debts of businesses that cannot make payments when it is time to repay the loans they have given to businesses.
In the first two months of 2024, 14 hotels in Istanbul, Marmaris, Bodrum, Rize, Çanakkale, Van and Rize, while Ceren Hotel in Fatih, Istanbul will be sold from execution at a value of 31 million in the sales tender to be held on 18 April.
On 30 April, Real Suit Hotel in Van İpekyolu will be sold by auction with a value of 16 million TL. The four-storey hotel in Marmaris Icmeler in Muğla province, one of Turkey's most important tourism destinations, will be sold from execution. 86 million 980 thousand TL value of the hotel will be auctioned on 30 April. In the first two months of 2024, another hotel that was put up for sale from execution is a four-storey hotel with 24 rooms in Ayvacık, Çanakkale. This facility was also valued at 15 million TL.
The 21-room hotel in Bodrum, one of Turkey's most important tourism destinations, was sold for 21 million TL, the facility in Tilkicik in Bodrum was sold for 26 million TL, the hotel in Manisa Akhisar was sold for 15 million TL, and the hotel in Rize Yeniköy, which was valued at 6 million TL, was put up for sale by the execution directorates.
