IST, you would be surprised at what airport hotels will do to guarantee locked in nights, If TK guarantees let's say 20,000+ nights per year, I can see them easily agreeing to $50 a night or whatever. That is a million dollars in revenue without having to do anything, as a matter of fact considering the size of the hotel and the way that hotel financing has been done in Turkey for years, I would not be surprised if they did not already have a contract for 100,000 nights at $50 a night for 5 years, and that they used that already to get construction or other financing on the hotel already (Turkish banks have been known to lend 2-5x the amount of such contracts to the right builders) such a deal could have already financed the hotel ($10-$25 mil loan backed by the contract), Similarly I am sure that they have already secured crew deals, which are the gold standard for such hotels, as generally it means you have a certain amount of rooms rented out essentially forever, and often paid monthly.