Ahmet Akbalık, Chairman of the Board of Özak Global, has unveiled plans to open four new hotels in Türkiye, including two in Antalya and one each in Didim and Bodrum. The announcement was made during the TIF2024 (Tourism Investment Forum) event, organized by the Turkish Tourism Investors Association (TTYD), where Akbalık participated in a panel titled “From Local to Global: Expectations of Turkish Tourism Brands.”
“Real estate value must be separated from tourism value”
Sharing insights into the group’s investment strategies, Akbalık emphasized the need for a distinctive approach to tourism. “We began our tourism journey with a different perspective,” he explained. “Since the 1980s, we have established global partnerships and moved beyond traditional Turkish business models. Within Özak REIT, we focus on asset management, and in our initial venture in Belek, we developed a structure that deviated from traditional tourism dynamics. We prioritized family-centric experiences and saw significant potential when we transformed this into a compelling story. By approaching the industry from alternative perspectives, we reshaped the process. It’s crucial to separate asset management from tourism management. If the value of real estate and tourism are not distinguished, accurate measurement is impossible.”
“Four new hotel investments in the pipeline”
Highlighting the group's latest expansion plans, Akbalık stated, “As we focused on real estate, we realized that tourism had taken a backseat. To address this gap, we set new priorities and decided to invest in four new hotels. After examining the current trends, we aligned our projects with next-generation tourism models. We plan to open two new hotels in Antakya - Kemer and one each in Didim and Bodrum. Comparing existing tourism products in Southern Europe, we identified a significant gap in Türkiye. To bridge this, we are developing a new model that we believe could serve as a role model for the industry.”
“Establishing local standards while embracing global norms”
Akbalık also stressed the importance of branding and adhering to international standards. “We aim to create our own standards,” he said. “While global brands have established norms and benchmarks, we’ve often adapted these to local practices without sufficient analysis. The presence of foreign brands enhances Türkiye’s tourism ecosystem, yet their absence in some areas is noteworthy. This gap highlights the importance of universal standards and norms. A brand’s success depends on its alignment with such criteria.
We have developed our infrastructure to meet these global standards, and after ensuring our investments adhere to them, we plan to expand internationally. However, branding is not something we can achieve in isolation. Without transformation, building a successful brand will be challenging. Competing on the global stage requires collective effort, and going it alone in branding will be a difficult journey,” he concluded.
