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Inns Bought to Become Five-Star Hotels
Standart Daily, Boryana Dimitrova, 05.08.2005
The Portuguese hotel chain Pristana is willing to invest in hotels in Bulgaria. Its representatives have had talks with the Chairman of Bulgaria's Tourism Agency, Bisser Yalumov. The investors have shown interest in inns, old houses, fortresses and palaces in Bulgaria, said Yalumov. Their practice is to buy buildings and after their restoration turn them in luxurious four-star hotels. The only and compulsory condition is that the hotels are close to historic and cultural sites, representatives of the Portuguese company explained. Pristana's future bases in Bulgaria will receive organized foreign groups which are traveling around the world with the purpose of cultural tourism. Pristana is the owner of some 80 similar hotels in Europe and South America. Another Portuguese construction company and an investment bank have also shown interest in this kind of tourism in Bulgaria, Bisser Yalumov added. German company Treugast is also willing and ready to invest in hotels near historic and cultural sites. The company is looking for historic sites and places suitable for development of balneology. The investments in cultural and tourist sites in Bulgaria in 2004 were 0.5 billion euro. The revenues from tourists who travel round historic and excavation sites exceed 174 million euro, the data of the Tourism Agency shows. see source
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