Japanese firm makes largest-ever tourism investment in Cappadocia

Japan-based tourism company HIS and Dorak Holding inaugurated the Cappadocia Marriott Hotel in Cappadocia, Nevsehir.

The agreement, totaling $60 million, represents a $30 million investment from each party, marking the largest tourism investment from Japan to date.

Explaining the progress to business-focused capital.com, Dorak Holding Chairman Ahmet Serdar Korukcu said: “For 15 years, we have been bringing tourists from Japan to Türkiye in collaboration with HIS. We approached them with an investment proposal for this project. Thanks to our 15-year collaboration and their trust in Türkiye, they made the investment decision and signed the agreement in just 15 minutes.”

Korukcu mentioned that the investment amounts to $60 million, with $30 million contributed by each party.

Largest tourism investment from Japan

Japanese HIS, which aims to close this year with a turnover of $2.5 billion, opened its 48th hotel in Türkiye. “Until now, there has not been such a large direct tourism investment from Japan to Türkiye,” HIS CEO Tatsuya Nakamori said.

Nakamori pointed out that HIS Group operates many robot hotels in Japan, saying: “In these hotels, all processes, including check-in, check-out, and service, are carried out by robots. We are planning a similar hotel in Istanbul.”

Explaining that new projects with Japanese partner HIS are already under discussion, Korukcu said: “We have purchased land in Pamukkale, Denizli. Here, we are planning a hotel investment of $60–70 million. We aim to lay the foundation for this investment in 2025 and complete it within 18 months. This hotel will be operated by Hilton.”

Korukcu, who stated that the hotel planned in Pamukkale will have 300 rooms and 600 beds, added that the partnership will open the doors to new investments.

Targeting 400,000 visitors by 2025

Cappadocia Marriott aims to reach a wide audience, as it has been already hosting mainly visitors from North and South America, the Far East, the Gulf region and Europe.

Korukcu stated they aim to host 400,000 people worldwide as a holding company in 2025. He also noted that accommodation prices at Cappadocia Marriott will start at approximately 150 euros during the low season, excluding breakfast.

In the last five years, the Cappadocia region has attracted tourists from countries such as France, the United Kingdom, Italy, Latin America, Brazil, Argentina, Colombia and the Middle East.

Korukcu added that $10 billion of Türkiye’s expected $50 billion tourism revenue in 2024 is anticipated to come from this region.

Predicting that Cappadocia has the potential to reach 10 million tourists by 2025, Korukcu stated that interest in the region is expected to increase further over time.