Yakup Demir, President of the Çeşme Association of Touristic Hoteliers and Operators (ÇEŞTOB), announced that for the first time in a decade, Çeşme hoteliers have been compelled to lower prices during the peak season.
As exchange rates stagnated while costs in the tourism sector surged, hoteliers sought relief in significant price hikes. However, these increases were not well-received, neither domestically nor internationally. Facing the threat of losing the season, Çeşme hoteliers decided to reduce prices.
Demir noted that particularly five-star hotels have made "adjustments" to their rates. He explained that current prices have almost returned to last year’s levels, encouraging domestic tourists to reconsider their holiday plans.
Highlighting that hotel occupancy rates surpassed 80% in August, Demir explained that the inability to compete with the Greek Islands, due to stable foreign currency rates and price volatility, forced them to reduce prices during peak season for the first time in 10 years. Speaking to NTV, Demir remarked, "Unfortunately, unstable prices in Turkey have reduced our competitiveness. In the Greek market, prices are more stable. Here, prices were fluctuating on a weekly and monthly basis up until a month ago, when some stability began to take hold."