Three Vie for Kempinski Hotel Zografski in Sofia

Business » PROPERTIES | August 18, 2014, Monday // 16:16
Bulgaria: Three Vie for Kempinski Hotel Zografski in Sofia Photo: Kempinski.com

Three bidders have remained in the final leg of the race for the five-star Kempinski Hotel Zografski in Sofia, the Pressa daily has reported.

The bidders are Bulgarian hotel owner Vetko Arabadzhiev, owners of local Chimimport group and Lebanese entrepreneurs.

According to the newspaper, Victoria Group VM company seen as close to Arabadzhiev has the biggest chance among the three to acquire the landmark Sofia property.

The price of the potential deal is estimated at about EUR 50 M, Pressa added.

Bulgarian-born businessman Ivan Zografski bought the hotel from the state for DEM 65 M twenty years ago. Since 2007 it has been owned by Zografski’s heirs.

Kempinski Hotel Zografski ended last year with BGN 12.06 M in revenue, down 9% on the previous year.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Properties » Be a reporter: Write and send your article
Tags: Kempinski Hotel Zografski, Vetko Arabadzhiev, Chimimport, Ivan Zografski

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria