Istanbul capital of foreign investment

The value of foreign investment in Istanbul in 2011 was more than the total foreign investment in Istanbul for the 2008-2011 three-year period, figures say.

Foreign investment in Istanbul increased by 110.77 percent in 2011 from a year earlier, according to a study released by the Istanbul Chamber of Commerce (İTO). At the same time, the total number of foreign investors increased by 52.4 percent.

Hilton to set up 13 new hotels in Turkey in two years

International hotel chain Hilton Worldwide announced plans to open 13 new hotels in Turkey, increasing the number of Hilton-branded lodging facilities in the country to 33. Turkey’s bridging position between the East and the West, and the country’s rising popularity as a tourism destination have lured the likes of Nikki Beach Hotels, MGM, Emaar, Bvlgari, Armani, Jumeriah, Shangri-La, Mandarin, Rezidor, Wyndam Hotels and Soho House to invest in Turkey’s various cities. Istanbul, alone, will be home to 100 new hotels, some 40 of them 5-star class, over the next two years, taking the city’s bed capacity to 100,000.