Istanbul, Bodrum become expensive destinations: Four Seasons Istanbul GM
Eminonu and its surroundings in Istanbul, Türkiye. (AA Photo)
Reto Moser, General Manager of Four Seasons Hotels Istanbul, has highlighted the rising costs in Türkiye’s tourism sector, particularly in Istanbul and Bodrum.
Speaking about the industry’s economic pressures, Moser noted that Türkiye has become as expensive as leading European destinations like London and Paris.
“Compared to four years ago, Türkiye—especially Istanbul and Bodrum—has become significantly more costly. Today, we are on par with the most expensive European cities in terms of operational costs,” Moser said.
Türkiye, especially Istanbul and Bodrum, has become really costly. We are now on par with the high-cost European cities. We have become a little bit more expensive, like London and Paris, but still, Istanbul is one of the most iconic cities in the world. Culture, history, the beauty of the cuisine, the beauty of the city—Istanbul has so much to offer.
If you want to compare Türkiye with other similar countries, yes, on the cost side, we have become similar to the hotels managed by my colleagues in big cities in Europe.
Reto Moser, General Manager of Four Seasons Hotels Istanbul
Impact of rising labor and operational costs
Moser emphasized that labor remains the most significant cost factor for the hospitality industry, driven by the Four Seasons’ commitment to guest satisfaction and employee investment.
“We prioritize quality and invest heavily in our staff. However, costs have surged across the board, from food supplies to operational expenses. While room rates peaked in 2022 because of post-pandemic dynamics and the war in Ukraine, they have now plateaued despite rising costs,” Moser explained.
Navigating market pressures
Addressing the competitive landscape, Moser expressed optimism about the industry’s resilience.
“Competition is good because it keeps us sharp and innovative. Naturally, we expect a sustainable return on our investments in the long run. While there is pricing pressure due to market oversupply, this is part of a natural economic cycle.”
