One of the largest hotel chains in the world,Hyatt,is entering Bulgaria with a hotel in central Sofia, the Bulgarian Tourism Ministry announced on Thursday.

The announcement followed a meeting of Tourism Minister Nikolina Angelkova with Takuya Aoyama, Vice President Acquisitions & Development of Hyatt International Europe, Africa and the Middle East (EAME) and Lachezar Todorov, CEO of Terra Tour Service, the Bulgarian partner to the project.

"The hotel chain is of very high class and will give a new impetus to the development of our tourism sector," Angelkova told reporters, according to a statement from the ministry.

"We have been working towards the implementation of this investment intentionfor more than  seven years and we believe that now the right time has come," commented Lachezar Todorov.

Takuya Aoyama noted that Bulgaria welcomes many tourists and Hyatt want them to stay longer in the future hotel in Sofia.

The first Hyatt Regency Hotel in Bulgaria will be built in Sofia at the site of the former hotel and cinema complex Serdika just opposite the monument of Vasil Levski and across the street from National Art Gallery Square 500.

The five-star hotel is expected to open in 2018. It will feature 190 rooms, three restaurants, a hall area of 1,200 sq.m. suitable for receptions, exhibitions and conferences.

Sofia-based Terra Tour Service is part of Agrohold group founded in 1995. Тhe company concentrates the holding group’s interests in the field of investment, construction and operation of real estate and tourist sites in Bulgaria.