HOTEL TURNOVER IN JANUARY 2024
The turnover of the accommodation sector in Turkey started with a moderate development in the first month of 2024 compared to 2023. Cost pressure continues for hotels in the face of exchange rate increases.
HOTEL TURNOVER IN JANUARY 2024
According to the “Turnovers, Exchange Rate and Cost” analysis newly launched by Turizmdatabank, hotels in Turkey made a turnover of around 1.2 billion dollars in January 2024. In 2023, turnover was below $1 billion. This shows that overnight stays increased at a low rate.
COST – EXCHANGE EXCHANGE IS HIGH
While hotel costs increased by 99.4% in January 2024, the dollar exchange rate increased by 59.9% annually. The cost – exchange rate gap increased to 40 points. The cost increase is 43 points above hotel inflation.
While the spread of hotel price increases and exchange rate increases also decreased throughout 2023, it became partially positive at the beginning of 2024. How much turnover did hotels make in January 2024?
In summary, the exchange rate increase compensated for the challenges arising from cost to some extent.
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