Istanbul weakens, but remains attractive

Istanbul. The continued protests against creeping islamisation by government in Turkish cities, in particular in Istanbul, are not affecting tourism and hotel projects in any way, two Turkey experts from Servus International and Istanbul-based PFD Consulting say. The country is still stable enough that the confidence of Turkish hotel investors has not been affected. They struggle more with land and construction costs than with finance. At the same time, international operators compete for their favour. Almost everyone wants a foothold in Turkey. Flexible credit terms and high GOP margins promise investors and operators alike a good life.