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Pamporovo looks promising
Sofia Echo Com, 14.02.2003
THE majority of Pamporovo's hoteliers and businesspeople got over their recent reluctance and pledged to join efforts towards improving the ski resort's infrastructure. Over the weekend, in the presence of Deputy Economy Minister and the minister in charge of tourism development, Dimitar Hadjinikolov and Chairperson of the Monitoring Council of SIBank Tsvetelina Borislavova, they founded the stock holding company Pamporovo 2003. Pamporovo AD is considered the initiator of the Pamporovo 2003 coalition. It was also the author of the programme for refurbishment of the resort's facilities that the newly established holding approved at the founding meeting. Meanwhile, SIBank has become owner of a total of 10 per cent of the stock in Pamporovo AD, after on Monday it acquired another 3.5 per cent from the residual state-owned stock of the firm in return for compensatory notes. The move came a week after an analogous transaction at the Sofia Stock Exchange, when SIBank purchased another 6.7 per cent. Pamporovo 2003 set as top priority the refurbishment of the lift network of the resort and the construction of two new cable lifts connecting the central part of the resort with Malina station and the northern slope of Stoikite village. Among other projected changes are the purchase of artificial snow facilities, and lighting for part of the ski runs. The establishment of the stock holding comes shortly after, in late December, Pamporovo hoteliers united in a not-for-profit organisation 21st century Pamporovo. Both entities agreed to launch a wide-ranging advertising campaign for the resort. They also agreed to devise a common strategy aiming at the comprehensive presentation of the resort and build on the already growing numbers of visitors. This season, hoteliers said the resort registered a 20 per cent growth in visitor numbers compared with last year. Hadjinikolov said that the positive trend has been experienced at all ski resorts this year. This week, Pamporovo AD is holding a stockholder meeting, at which attendants are expected to vote a threefold increase of the holding's capital, with which it will subsidise the refurbishment of the Perelik and Arpha hotels, the only hotels that have remained the property of Pamporovo AD. With the expected proceeds of 717 400 leva from the new issue, the company will sponsor the first stage of the investment programme. The capital increase is slated as almost sure, because SIBank and Swiss-based Tourist Invest jointly hold over three-thirds of the decision-making votes. see source
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