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Festa Holding co buys Chamkoria hotel in Borovets resort
Festa Holding co buys Chamkoria hotel in Borovets resort << Back to list of articles
Festa Hotels, a unit of the local Festa Holding, has bought the Chamkoria hotel in Bulgarian ski resort Borovets.
The news was confirmed by Festa Holding owner Petia Slavova. She said the undisclosed deal price has been paid in full and the transaction should be finalised promptly.
The 160-room hotel will be overhauled in time for the 2007/2008 skiing season.
Festa Hotels said the cost of the renovation is seen at 3 mln levs.
Chamkoria was acquired by the creditors of its owner Team Tour after the company defaulted on its loan repayments. The property was listed at a price of 6.313 mln levs.
Earlier this year, Festa Hotels leased the Borovets recreational center owned by the government. It also owns the Konstantin Palace hotel in the same resort.
In addition to Borovets, Festa also owns hotels in Sofia and Pomorie, on the Black Sea.(Dnevnik)