Major Istanbul hotel to become residential – may impact tourists
Radisson Residences Avrupa TEM Istanbul, a property owned by Artaş Holding, will no longer be marketed as a hotel but as independent residential units.
This recent decision, dated 29 September 2026, marks a significant shift for the property in question in Istanbul and may have consequences for the city’s accommodation market. The value of the property in question is set at 1 billion 939 million 140 thousand Turkish lira.
The shift from hotel to residential use is an important development that will affect the total availability of hotel rooms in Istanbul, one of the world' s most visited cities. For tourists, business travellers, and other visitors to Istanbul, this means that an established accommodation option under a recognised international brand is disappearing from the hotel market.
Radisson Residences has traditionally offered apartment-style accommodation, often popular with families or those seeking longer stays with self-catering facilities.
A reduction in such offerings may impact the available choices and potentially the price levels for other similar hotels in the future. Istanbul is a global hub that attracts millions of visitors annually, from Western tourists to travellers from the Middle East and Asia.
Any loss of significant accommodation capacity can be felt, especially during peak seasons or during major events.
It may lead to increased demand for remaining hotels and thus a potential price rise for tourists planning trips to the Turkish metropolis. The decision to convert the property for residential purposes likely reflects a shift in property strategy by Artaş Holding, which now sees greater potential in residential sales.
Although this is an internal business decision, it has direct consequences for the tourism industry in Istanbul.
Hotel chains like Radisson plan their presence based on market conditions and potential spare capacity.
The fact that a branded property is disappearing from the hotel portfolio signals a change in the supply side. Travellers who are accustomed to finding a wide range of accommodation options, including apartment hotels, should be aware of such changes.
It is wise to book accommodation well in advance, especially if one has specific preferences for hotel type, location, or brand, as such conversions can reduce the selection and cause popular options to become unavailable.
Source: Turizmguncel
