The market for experimental luxury in Turkey is poised for significant growth in constant value terms (2024 prices) throughout the forecast period, primarily fuelled by ongoing investments in new luxury hotels. Notably, the Turkish luxury hospitality group Rixos Hotels has announced plans to launch its flagship property, Rixos Tersane Istanbul.
Sustained investment in the development of new luxury hotels by high-end fashion brands is likely to further enhance growth in this category over the forecast period. One recent example of this trend is the recent opening of a luxury hotel by Turkish fashion and design megabrand Vakko in Istanbul during the first half of 2023, marking the group's inaugural venture into the hospitality sector.
In the post-pandemic era, consumers are generally taking fewer holidays, while spending more time traveling and investing more money on each trip. However, high inflation poses a significant challenge for experiential luxury operators.
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Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Turkey with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See All of Our DefinitionsThis report originates from Passport, our Experiential Luxury research and analysis database.
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