UAE-based Cristal Group eyes Turkish expansion

Cristal Hospitality will set up a new office in Turkey to capitalise on the growth in the country's hospitality sector.

According to Cristal Hospitality CEO and president Peter Blackburn, the group has set a target of eight new hotels in Turkey within three years.

“With the backing of a prominent local partner, we think this is a realistic ambition given the bullish growth the hospitality sector in Turkey is currently experiencing,” Blackburn said.

“Istanbul itself boasts more than 800 properties with nearly 5000 rooms under development, but as well as looking at this city, we will be seeking opportunities in secondary destinations plus the mid-market sector which is under-served by international brands,” he added.

Blackburn also pointed to the opening of the Istanbul New Airport in 2017, which will make it the largest airport in Europe, with a potential capacity of 150 million passengers a year.

“In addition to unlimited tourist attractions, Turkey is developing as a financial and manufacturing centre, with projects such as the Istanbul International Finance Centre set to attract more commercial ventures into the city – all of which will spur the need for additional accommodation options both in Istanbul and throughout the country,” Blackburn stated.

Turkey is rated as the sixth most visited country worldwide, and welcomed more than 40 million leisure and business tourists in 2014. The government aims to grow this number by 50% as the country develops its medical, sports, cultural, and wellness tourism sectors.