A luxury hotel will be build in Borovets, the second largest ski resort in Bulgaria, by Classical Hotels- a Greek hotel company that owns Sheraton Sofia Hotel Balkan.
This is the company's first investment in Bulgaria's winter ski resorts.
The hotel should be ready in mid 2008 and is yet not affiliated with any international hotel brand .
At the moment, company is busy renovating the Sofia Sheraton hotel and a new 1,000-seat conference hall must be ready by mid-2007.
The Sofia Sheraton slumped to a loss of 2.9 mln levs towards the end of 2006 after posting a profit of 3.3 mln levs a year ago, shows the interim financial report for 2006.
Revenues fell 12% to 16 mln levs while expenses jumped 35% to 16.9 mln levs in 2006.(Dnevnik)