EBRD loan to support sustainable and inclusive tourism sector in Türkiye

• EBRD loan to Bartu Turizm to support human capital development by providing job opportunities to people displace by recent earthquakes
• Antalya hosts a large community of displaced earthquake victims
• Project to develop staff accommodation to help address the city’s housing issue

The European Bank for Reconstruction and Development (EBRD) is providing a €25 million loan to Bartu Turizm Yatirimlari, a hotel joint venture between German travel and tourism company TUI Group and the Akra Hotels group in Türkiye.

As a part of the project, the EBRD will extend the term of an existing Bank loan and provide the venture with new funding to buy a plot of land for the development of staff accommodation in Antalya, as well as to finance maintenance capex.

The financing will also allow the company to expand human capital development and employment opportunities for people forced to leave Türkiye’s earthquake-hit region. More than 3 million people have been displaced, and Antalya has hosted more than 150,000 of them, making it the country’s second-largest host city after Ankara. Bartu Turizm has committed to tailoring its training programmes to meet the needs of these displaced individuals.

Bartu Turizm owns and operates four coastal hotels on the Aegean and Mediterranean coasts of Türkiye, with a total capacity of 1,272 rooms under the Akra brand. The Bank signed its first loan agreement with Bartu Turizm during the Covid-19 pandemic, demonstrating its support for the Turkish tourism sector during one of its most challenging periods.

Vlaho Kojakovic, EBRD Director of Real Estate, said: “We are proud to continue supporting Türkiye’s dynamic tourism sector – one of the country’s key economic drivers and a priority area under the Bank’s recently approved real-estate sector strategy. Our partnership with Bartu Turizm demonstrates our commitment to investing in sustainable, inclusive projects, expanding opportunities for communities across the region.”

Ilker Orgun, Bartu Turizm Chief Financial Officer, said: “At Bartu Turizm, we are proud to deepen our long-standing collaboration with the EBRD, which continues to play a vital role in supporting sustainable and inclusive growth in Türkiye’s tourism sector. Through our Akra Hotels brand, we are committed to contributing to the local economy by fostering cultural and artistic engagement — as exemplified by initiatives such as the Akra Jazz Festival, Akra

Meze Festival and the internationally recognised Tour of Antalya cycling race, of which we are the founder and main sponsor. This new phase of our partnership with the EBRD further underlines our trust in the long-term potential of the tourism industry. We are currently developing a new, high-standard coastal property in Didim, which is scheduled to open in 2026. This investment reflects our vision for sustainable tourism and our commitment to creating value for communities, guests and partners alike.”

The EBRD is among Türkiye’s key investors, with almost €22 billion committed through 484 projects and trade finance limits since 2009, largely in the private sector.