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The hotel industry in Sofia enters enters a new stage of development

According to experts, the hotel industry in Sofia enters a new stage of development. Over the next few years, several new hotels are expected to open doors in Bulgaria’s Capital. Some of them are already awaiting their inauguration, while others are still being constructed or designed.

“The new hotel wave” comes in response to expectations shifting towards Sofia becoming a favorable destination for business and congress tourism. Conferences and congresses are one of the main income sources and probably one of the most profitable activities in the sector.

According to the market research reports, an average business tourist expenses exceed almost ten times, the expenses of an average holiday tourist. Considering the fact, most of the new hotels in Sofia are expected to be truly well-grounded – equipped with at least one or two conference halls, the necessary resources and staff, in order to further unwind their congress business activities.

The actual investment flow is shifted towards Sofia’s ring-road areas and the areas along the Todor Alexandrov Boulevard. In the lump, the four star hotels are expected to dominate in number, luxurious and boutique hotels will represent just a small part of the whole, and the rest will be included in the multifunctional complexes, to be built in the Capital.

„The obviously accelerated progress of the sector will lead to a stronger competition in the conference and business tourism sector, which will have a positive impact upon the quality of services” – tourism industry expert, Delyan Neshev said.

By then end of 2007, Sofia’s hotel overall material base is expected to grow by some 400 beds, and by by the thousand over the next two years.

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