Informes Sectoriales OP - Icex

TOURISM AND RELATED SERVICES IN BULGARIA
The profitability from night stays is also growing. In 2000, it stood at BGN 190 mln
(at current prices); in 2001 – BGN 233 mln; in 2002 – BGN 200 mln; in 2003 – BGN
295 mln; and in 2004 – BGN 388 mln. For the period under review, it has more than
doubled, increasing by BGN 198 mln.
5.1.3. Tour operators
Usually the biggest resorts and hotels or their daughter companies have a license for
a tour operator. Complete list of licensed companies for tour operator and tour agent
activity can be found on the web site of the Bulgarian Ministry of Culture (still under
the former administrative arrangement; now the sector is supervised by the Ministry
of Economy & Energy). Listed below is a sample of them: Albena AD, Balkan Holidays
Services OOD, Balkantourist AD, Bulgaria VIP Travel OOD, Vegena OOD, DM
Travel OOD, Odiseya In OOD, Golden Sands AD, Sunny Beach AD, Pamporovo AD.
5.1.4. Developers
Planex Holding
The Varna-based construction company, announced it was building a 4.9 mln euro
vacation complex in sea resort St. St. Konstantin & Elena, 10 km north of Varna.
The bulk of the financing is provided by Planex with the balance borrowed from Raiffeisenbank.
The company expects to recoup the investment in 8 years. Splendid St.
Constantine consists of 4 residential buildings and one 51-room hotel with a gross
area of 14,000 sq m. It is the second complex in the Splendid chain and the fifth
property overall developed by Planex. The gated complex, due to open for business in
June 2006, has already sold over 30% of its 55 apartments.
Super Borovets developers
Disagreements between the shareholders in Rila Samokov 2004, a company specially
incorporated to implement the Super Borovets project, have halted the large-scale
expansion of the mountain resort located 72 km south-east of Sofia. Rila Samokov
2004 is co-owned by Contract 99 (51%), a company of late banker Emil Kyulev now
passed on to his wife Vesela Kyuleva, construction company Glavbolgarstroy (16%),
the Samokov municipality (25%) and Energokomplekt (7%). The Samokov municipality
has demanded more executive powers within Rila Samokov 2004, especially when
it comes to property transactions. The municipality has paid for its shareholder seat
with the contribution of 200 ha of land that will be used for the purposes of the Super
Borovets project
The plans for 3 new vacation properties in ski resort Borovets were made public in
the Architectural Idea competition. Businessman Nikolai Valkanov, formerly in
charge of the energy policy of MG Corp., plans to build a complex with residential
and hotel components on the road between Borovets and Beli Iskar. The southfacing
development in the vicinity of the finish line of the Yastrebets-3 ski run will
consist of 3 apartment and one 5-star hotel buildings. The home units will range
from 56 to 85 sq m. Construction company Glavbolgarstroy intends to build a 9,000
sq m holiday complex in the resort. The third project, developed by an unnamed investor,
is for the construction of 10 four-storey houses on a 6,651 sq m site on the
Spanish Economic and Commercial Office of the Spanish Embassy in Sofia 63