Hotel Businesses In Bulgarias Winter Resorts Face Problems Due To Lack Of Snow

Owners offered five hotels for sale in the beginning of the week in Bansko winter resort.

Warm weather and the lack of proper skiing conditions affected seriously hotel businesses in Bulgaria's winter resorts, imoti.net reported. Increasing number of hotels has been offered for sale already.

Most investors took loans to construct hotels and the snowless winter proved fatal for their business plans, mediapool.bg reported.

Nearly 55 hotels are already offered for sale in the Bansko region. The average price is 700 euro per sq m. Some of the more expensive offers reach 1100 to 1200 euro per sq m.

Real estate agents said that it was uncertain if investors would show interest in such offers.

International tourism tendencies show that more people are interested in smaller family-type hotels. As a result bigger hotels become less attractive investment.

The construction of big hotels in Bulgaria was going to decrease prices even more, said agents. Agents said that the situation could become worse if the coming winter was snowless, as well.