Albena To Invest 50m Leva In Boosting Bed Capacity

Albena holding company will pour 50 million leva this year in increasing bed capacity and modernising hotel complexes in Albena resort, according to the company management’s plans, published in its corporate report for 2007 and quoted by Dnevnik daily.

Among Albena’s investment priorities are the construction of the third stage of Flamingo hotel complex and upgrading the star ratings of some of the resort’s hotels. Management plans also include land purchases and development of new attractive restaurants with "seductive cuisine" and musical-artistic programme.

The investment programme will be financed through company’s own resources and bank loans.

Last year, Albena holding poured about 58.5 million leva in its tourist capacity reconstruction and expansion, which is expected to enhance corporate financial results in 2008.

The company’s business plan targets sales revenues of 105.2 million leva for this year, an 11.7 per cent increase on 2007, and a net profit of 18.4 million leva, or 3.8 per cent year-on-year growth.propertywisebulgaria.com