Dozens of Hotels on Sale in Bulgaria's Sunny Beach Resort over Crisis

Business | February 12, 2009, Thursday // 00:00
Bulgaria Dozens of Hotels on Sales in Bulgaria's Sunny Beach Resort over Crisis: Dozens of Hotels on Sale in Bulgaria's Sunny Beach Resort over Crisis Dozens of hotels in Bulgaria's largest Black Sea resort, Sunny Beach, have been listed for sale as investors are faced with the effects of the global financial crisis. Photo by bgvakancia.com

At least 100 hotels in Bulgaria's largest Black Sea resort, Sunny Beach, and in the nearby town of Nessebar, have been listed for sale.

The news was reported Thursday by the Standart Daily, which points out that the global financial crisis had made the investors eager to get rid of the expensive buildings even at a fraction for what they are actually worth.

Most of the hotels and apartment buildings for sale are located in the western part of the resort but many of the top hotels located on the beach are also sold.

The most expensive offer is for EUR 25 M for a hotel right next to the beach with an all-out built-up area of 50 000 square meters. The name of the massive luxury hotel complex is not revealed in the ad.

Some of the other top Sunny Beach hotels located on the very beach, and listed for sale are "Slavyanski" (all-out build-up area of 12 000 square meters, price: EUR 13 M), and "Strandzha" (12 000 square meters, EUR 15 M).

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Tags: Global Financial Crisis
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