Surge in New Hotels, Restaurants, and Tech Startups in Bulgaria
The economic landscape of the country is experiencing a dynamic shift as new hotels, restaurants, and technology startups emerge at an unprecedented rate
In January 2018, 1 894 accommodation establishments - hotels, motels, camping sites, mountain chalets and other establishments for short-term accommodation with more than 10 bed-places were functioned in the country. The total number of the rooms in them was 56.2 thousand and the bed-places were 124.0 thousand. In comparison with January 2017, the total number of accommodation establishments (functioned during the period) increased by 5.4%, and the bed-places in them - by 13.2%.
The total number of the nights spent in all accommodation establishments registered in January 2018 was 910.0 thousand, or by 13.5% more in comparison with the same month of the previous year, as the greatest increase (by 15.8%) was observed in 3 stars accommodation establishments. In January 2018, 70.7% of all nights spent by foreign citizens and 35.9% of all nights spent by Bulgarians were realized in 4 and 5 stars hotels. In 3 stars accommodation establishments were spent 22.9% of all nights by foreigners and 33.0% of all nights by Bulgarian residents, while in the rest of accommodation establishments (with 1 and 2 stars) they were 6.4% and 31.1% respectively. This was reported by the National Statistical Institute (NSI).
In January 2018, the number of arrivals in all accommodation establishments increased by 11.5% compared to the same month of 2017 and reached 373.0 thousand, as an increase by 13.6% for foreigners and by 10.1% for Bulgarians was registered. Bulgarians spent the nights in accommodation establishments in January 2018 were 227.4 thousand and spent 2.0 nights on the average. The arrivals of foreigners were 145.6 thousand, as 70.4% of them spent nights in hotels with 4 and 5 stars. On the average 3.1 nights were spent by foreigners.
In January 2018, the total occupancy of the bed-places in accommodation establishments was 26.6%, as compared to January 2017 increased by 2.1 percentage points. The highest was occupancy of the bed-places in 4 and 5 stars accommodation establishments - 38.3%, followed by 3 stars accommodation establishments - 26.2%, and with 1 and 2 stars - 14.4%.
The total revenues from nights spent in January 2018 reached 50.0 million BGN or by 20.2% more compared to January 2017. An increase in revenues was registered from both foreigners - by 21.8% and Bulgarians - by 18.0%.
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