Hoteliers Explained: Room Prices Up 43 Percent
The 2022 balance of the accommodation sector has been made public.
According to data from the Turkish Hoteliers Association (TÜROB), while occupancy rates across the country decreased in December 2022, they reached a notable increase throughout the year.
Consequently, while nationwide occupancy rates decreased by 4.6% to 57.9% in December 2022, occupancy rates in all of 2022 increased to 66.7% with an increase of 28% compared to the previous year.
84 PERCENT INCREASE IN INCOME PER ROOM
It was found that Istanbul increased the overall average in occupancy rates and Antalya in room prices.
In 2022, the average daily cost of rooms sold across the country increased by 43% compared to the previous year to €117.6, and revenue per room, which is considered the most important revenue criteria for hotels, increased by 84% to 78.4 euros. .
BEFORE THE PANDEMIC PERIOD IN THE OCCUPATION OF ISTANBUL
At the provincial level, Istanbul’s monthly occupancy rates in December 2022 decreased by 3.5% compared to December 2021 to 65.9%.
For their part, occupancy rates in the period January-December 2022 increased by 36.5 percent compared to the previous year and amounted to 74.7 percent.
In 2019, the year before the epidemic, this rate was 73.7 percent. In other words, the pre-epidemic occupancy rate in Istanbul has been exceeded.
THE DAILY PRICE OF THE ROOM IN ISTANBUL INCREASES TO 136.8 EUROS
The average price of rooms sold per day in Istanbul increased by 49 percent compared to 2021, reaching 136.8 euros. In 2021, this amount was 91.8 euros.
Revenue per room, which is accepted as the most important revenue criterion for hotels, reached 102.2 euros. In 2021, this amount was 50.2 euros.
ROOM PRICES IN ANTALYA 144.1 EUROS
In the period January-December 2022 in Antalya, occupancy rates increased by 22% to 62.3%, the average daily price of rooms sold increased by 20% to €144.1 and revenue per room increased 46% to 89.7 euros.
In the same period, the average for Anatolian hotels outside of Istanbul and Antalya was 53.8 percent in occupancy, 47.3 euros in daily room sales and 25.4 euros in room revenue.
In 2022, the average occupancy of European destinations was 64.6%, the price of the room was 132.3 euros and the income per room was 85.4 euros. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
