Turkey
Akfen GYO is a pioneering Real Estate Investment Trust (REIT) with a distinct focus on the “City Hotels” concept. Established in 1997 with headquarters in Turkey, the company strategically partners with Accor Group, a leading hotel management enterprise. This partnership began in 2005, aiming to develop hotel projects in both Turkey and Russia under the Ibis and Novotel brands.
The company’s business model prioritizes earning rental income from long-term agreements rather than direct hotel management. Akfen GYO currently manages a portfolio featuring 12 hotels across locations like Istanbul, Trabzon, Eskişehir, Kayseri, Gaziantep, Bursa, Kyrenia, and Russian cities Yaroslavl and Samara. Moreover, new development projects are underway in regions like Istanbul-Esenyurt, Adana, Izmir, Ankara, and other strategic sites. Though there’s no recent investment data, the company presents a stable asset-based model within the vibrant hospitality sector.
