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12 Well Being Hotel Investments in Europe

Updated: Sep 1, 2021

Royal Investment AG will lease a portfolio of 12 hotels with a value of approximately 1 billion Euros in Europe for health tourism, with option to purchase.

Health tourism is a wider term for travel that focuses on medical treatments and the use of healthcare services. It covers a wide field of health-oriented tourism ranging from preventive and health-conductive treatment to rehabilitation and curative forms of travel. Wellness tourism is a related field.

Based on the type of services, health tourism includes medical tourism and wellness tourism. Medical tourism is characterized by therapeutic measures. Wellness tourism provides medical examinations, screening and preventive care service.

Factors that have led to the increasing popularity of medical travel include the high cost of health care, long wait times for certain procedures, the ease and affordability of international travel, and improvements in both technology and standards of care in many countries. The avoidance of waiting times is the leading factor for medical tourism from the UK, whereas in the US, the main reason is cheaper prices abroad. Furthermore, death rates even in the developed countries differ extremely, i.e. UK versus seven other leading countries, including the US.

Many surgical procedures performed in medical tourism destinations cost a fraction of the price they do in other countries. For example, in the United States, a liver transplant that may cost US$300,000, would generally cost about US$91,000 in Taiwan. A large draw to medical travel is convenience and speed. Countries that operate public health-care systems often have long wait times for certain operations, for example, an estimated 782,936 Canadian patients spent an average waiting time of 9.4 weeks on medical waiting lists in 2005. Canada has also set waiting time benchmarks for non-urgent medical procedures, including a 26-week waiting period for a hip replacement and a 16-week wait for cataract surgery.

In First World countries such as the United States, medical tourism has large growth prospects and potentially destabilizing implications. A forecast by Deloitte Consulting published in August 2008 projected that medical tourism originating in the US could jump by a factor of ten over the next decade. An estimated 750,000 Americans went abroad for health care in 2007, and the report estimated that 1.5 million would seek health care outside the US in 2008. The growth in medical tourism has the potential to cost US health care providers billions of dollars in lost revenue.

An authority at the Harvard Business School stated that "medical tourism is promoted much more heavily in the United Kingdom than in the United States".

Additionally, some patients in some First World countries are finding that insurance either does not cover orthopedic surgery (such as knee or hip replacement) or limits the choice of the facility, surgeon, or prosthetics to be used.

Popular medical travel worldwide destinations include: Canada, Cuba, Costa Rica, Ecuador, India, Israel, Jordan, Malaysia, Mexico, Singapore, South Korea, Taiwan, Thailand, Turkey, United States.

Popular destinations for cosmetic surgery include: Argentina, Bolivia, Brazil, Colombia, Costa Rica, Cuba, Ecuador, Mexico, Turkey, Thailand and Ukraine. According to the "Sociedad Boliviana de Cirugia Plastica y Reconstructiva", more than 70% of middle and upper-class women in the country have had some form of plastic surgery. Other destination countries include Belgium, Poland, Slovakia and South Africa.

Some people travel for assisted pregnancy, such as in-vitro fertilization, or surrogacy, or freezing embryos for retro-production.

Why Medical Tourism in Turkey?

The cost of medical recourses in Turkey is quite affordable compared to Western European countries. Therefore, thousands of people each year travel to Turkey for their medical treatments. Turkey is especially becoming a hub for hair transplant surgery. Almost 178 thousand tourists visited for health purposes in the first six months of 2018. 67% used private hospital, 24% public hospitals and 9% university hospitals. The Regulation on International Health Tourism and Tourist Health came into force on 13 July 2017. It only applies to those coming specifically for treatment.

Turkey is a leading player in the medical tourist/healthcare facilitation industry. It is increasingly emerging as the destination of choice for a wide range of medical procedures.

Turkey's advantage in medical tourism is the high number of accredited hospitals in ophthalmic surgeries, bariatric and metabolic surgery, plastic surgery, transplantation and oncologic treatments as well as its affordable prices, high-quality service, and is a leading tourism destination with historical, cultural and natural attractions.

Medical tourism has become a booming sector in Turkey, with 700,000 people visiting the country last year. Many people come to Turkey due to the cost, quality, waiting period and ultimate facilities in the healthcare sector. The Joint Commission International has accredited 32 hospitals in Turkey; mostly located in Istanbul. In 2008, Turkey hosted 75,000 visitors for medical tourism. The figure has increased tenfold in 10 years and the expectation is 850.000 visitors for 2018.

Turkey provides better quality treatment at lower costs when compared to Europe, the U.S. and other western countries. Some surgeries are 90 per cent cheaper than other countries. However, the infrastructure and healthcare facilities offering world-class standards. Also, Turkey combines the best of healthcare with an exceptional holiday.

For example, the cost of angiography is $47,000 in the U.S., $13,000 in Singapore, $11,000 in India and $10,000 in Thailand, while $5,000 in Turkey. Similarly, the cardiac valve surgery is $150,000 in the U.S. and $17,000 in Turkey. Furthermore, procedure waiting time was a maximum of two weeks excluding transplantation, but this process could reach 18 months in western countries.

Turkey was ranked third in medical tourism by the International Medical Travel Journal (IMTJ). The U.S. was the first and South Korea the second in the list, while Thailand was the fourth and Germany fifth. On top of its impressive accreditation credentials, some hospitals have partnerships with top American hospitals such as Harvard Medical Center and Johns Hopkins and are staffed with many highly skilled, English speaking, and western trained doctors. Also, many hospitals offer 5-star accommodations for patients and their families.

The advantages of travelling to Turkey for Medical Treatment

  • Turkey is a leading player in the medical tourist/healthcare facilitation industry. It is increasingly emerging as the destination of choice for a wide range of medical procedures.

  • Internationally accredited medical facilities using the latest technologies

  • Highly qualified Physicians/Surgeons and hospital support staff

  • Significant cost savings compared to domestic private healthcare

  • Medical treatment costs in Turkey are lower by at least 60-80% when compared to similar procedures in North America and the UK

  • No Wait Lists

  • Fluent English speaking staff

  • Options for a private room, translator, private chef, dedicated staff during your stay and many other tailor-made services

  • Can easily be combined with a holiday / business trip

MaxCare Hotel Investments

As MaxCare Healthy Life, we are preparing to suceed on projects that add value to human life and we aim to activate many of them by the end of this year. As MaxCare, our vision is to be one of the world brands that shapes the future in the field of Health and Beauty. In this project, we plan to provide services in approximately 50 different items under 4 brands / 4 main groups, using our connections with health institutions, aesthetic centers, psychological centers, diagnostic centers, insurance companies and insurance funds. In this sense, we are looking for a solution partner to work with us for our projects.

In order to realize our projects, we want to make agreements with 12 hotels in the first place. We plan to have 8 of these hotels in Turkey. Afterwards, we will strengthen our project by making one more hotel agreement in each of the following countries; Greece, Croatia, Spain and Italy.