The tourism industry is booming, and investing in this sector could lead to great economic returns. Turkey has been a tourist hotspot for years. With a multitude of industries. Tourism is a multibillion-dollar industry in Turkey that will continue to grow annually. You can invest in the tourism industry and reap its many benefits while being a part of the growing market. Let us help you with this article if you want to open a hotel in Turkey!
Prices of Opening a Hotel
The prices depend on what kind of hotel you want. If you want to open a motel, for example, prices range from 30,000 euros to 100,000 euros. Yet, if you want to open a star-rated hotel, the prices range from 1 million euros to 190 million euros.
Registering an Accommodation Business in Turkey
As stated in the Commercial Law, foreign entrepreneurs can also open a hotel in Turkey. Two types of business forms are available for you to register. One is the limited liability company which you need 10.000 Turkish Liras to form, and the other one is the joint-stock company which you need a minimum capital of 50.000 Turkish Liras to form.
There are two licenses available to open a hotel in Turkey. The first one is the tourism operating permission is given by the Ministry of Culture and Tourism, which allows the hotel to be registered with the ministry. The second one is a business license provided by municipal authorities and allows the hotel to engage in commercial activity. The second one is compulsory to have, and the first one is not, but it is recommended as it is registered with the Ministry of Culture and Tourism.
Classification of Hotels
Hotels in Turkey can be rated from 1 to 5 stars based on the number of rooms they have, the amenities they provide, and the distance to the sea. Keep in mind that the amenities and services you provide are much more important than you think. Also, it differs depending on where you want to open your hotel. For instance, golf clubs are popular in Belek, and ski hotels are in demand in Uludag, Kartalkaya, Palandoken, and Sarykamysh.
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