There are 772 Hotels for sale in Bulgaria, many are mortgaged and due to lack of tourists the owners are desperate to sell.It is the smaller family run hotels that are worse hit, but even the larger ones were offering ridiculously cheap deals to Bulgarians even in August.
Basically the shift is towards all inclusive big hotels, which has the effect of vacuuming up the trade from bars and restaurants.
What we are seeing is nothing less than a fundamental realignment of the hotel industry, to fewer bigger Hotels offering better higher quality facilities.This cannot be a bad thing as long as there is competition to keep prices down.
I have said before that Bulgaria is pricing itself out of the budget holiday market and there is not a new client group to replace this market because Bulgaria does not have the service level or infrastructure to attract the middle classes.
It is great news though for the enterprising who want to convert hotels to apartments as most hotels are in excellent locations.
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