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Bulgarian Capital Has Only 5 500 Rooms in City Hotels

1 min read Real Estate Source: Novinite

From our news archive: this article was published in May 2011. Figures and rules may have changed since.

There are only 5 500 rooms in three-, four-, and five-star hotels with more than 50 rooms in the Bulgarian capital Sofia, according to data announced by property consultants.

The data was presented in Sofia Thursday at a public discussion about the prospects of city hotels in the Bulgarian capital, organized by Forton International and their partner Cushman & Wakefield.

In comparison to Sofia, the city hotels in Romania's capital Bucharest have twice as many room to offer, the organizers' data indicated, as cited by BTA>

According to the participants in the discussion, city hotels in Sofia have the potential to attract foreign investors as this segment still has room to grow. However, this is primarily true of projects located in the downtown of the city.

Investors from other business sectors in Sofia are said be have indicated interest in redirecting their attention to the city hotels.

However, according to Forton International, investment in a hotel is still riskier than an office building, for example, especially if the development is in more remote zones.

Originally published by Novinite.