A New Period in Tourism Investments: Room Sales to Third Parties
A New Period in Tourism Investments: Room Sales to Third Parties
Within the last year, it has become possible for tourism investors to get an extension of up to 49 years for the term of usage rights granted on public real properties; and to acquire the real properties on which an easement right is established or has been allocated in favor of the tourism investors or the operators.
On 30 June 2018, another long-awaited amendment was made to the Regulation on Certification and Qualifications of Tourism Facilities, legalizing the sales of hotel rooms in the tourism facilities to third parties.
Busra Ozden, Associate at SEE Legal’s Turkish member, Kolcuoglu Demirkan Kocakli, discusses these amendments and how they will reshape the Turkish Tourism sector in the August Law Bulletin of the Firm, which can be downloaded here.
Within the last year, it has become possible for tourism investors to get an extension of up to 49 years for the term of usage rights granted on public real properties; and to acquire the real properties on which an easement right is established or has been allocated in favor of the tourism investors or the operators.
On 30 June 2018, another long-awaited amendment was made to the Regulation on Certification and Qualifications of Tourism Facilities, legalizing the sales of hotel rooms in the tourism facilities to third parties.
Busra Ozden, Associate at SEE Legal’s Turkish member, Kolcuoglu Demirkan Kocakli, discusses these amendments and how they will reshape the Turkish Tourism sector in the August Law Bulletin of the Firm, which can be downloaded here.
