Hotel performance has witnessed a steep decline in Istanbul following recent terror attacks, according to the newly appointed GM of Raffles Istanbul, Christian Hirt.
Located within the Zorlu Centre, Hirt says that security at Raffles Istanbul, as well in the surrounding area, has increased over recent months but that the market will need time to recover.
“I would say the market has dropped by around 20% in occupancy since the most recent attacks. We are also feeling the impact from the oil price as around 70% of our guests are from the GCC. Nevertheless we are very confident that the situation will improve and we believe the market will recover quickly.”
He added: “If there is no repeat of the tragic events we have seen over recent months I believe the market will recover very quickly and we will have a good 2016 overall. I believe occupancy will improve and I believe the confidence returning to the market will also see the meetings segment pick up.”
Additional security measures at Raffles Istanbul include x-ray screening on all entrances and larger security teams, with addition security measures around the wider Zorlu Centre area.
“The security levels are high in Istanbul but it is very discreet. I feel very safe there because the security is present,” he continued.
FRHI has a number of hotels planned for Istanbul, across all brands, and Raffles Istanbul is also due to open its residences in October this year, comprising 67 keys of one and two bedroom apartments.