During 2021, positive growth was recorded in hotels in Bulgaria, although this was nowhere near enough to compensate for the drastic declines seen in revenues across Bulgaria’s hospitality sector during 2020. Struggling hotel operators have warned of potential mass bankruptcies and mass layoffs of personnel after bookings and revenues fell off a cliff during 2020.
During early 2021, the Bulg?ri?n H?t?l ?nd R?st?ur?nt ?ss??i?ti?n (BHR?) issued a statement recommending that all hospitality sector st?ff obtain a full v???in?tion against the COVID-19 virus as soon as possible. It is the BHRA’s position that m?ss v???in?ti?n of the country’s hospitality workforce is a prerequisite to a meaningful recovery across the travel and tourism industry, with a particularly positive impact expected to be seen ?n inbound t?urism flows f?r th? summ?r and winter tourism s??s?ns during 2021 and 2022.
The forecast period is expected to see lodging recover fully from the devastating impact that the COVID-19 pandemic had on bookings and revenues across the category during 2020. Central to the recovery of lodging is set to be the return to pre-COVID-19 levels of inbound arrivals as foreign visitors account for the bulk of hotel guests in the country.
Prior to the onset of the COVID-19 pandemic, Bulgaria’s travel and tourism industry was booming as increasing numbers of visitors from other European countries became aware of the outstanding tourism offer and excellent value for money that Bulgaria represents as an international travel and tourism destination. This had motivated existing players and new entrants in hotels to invest in the development of new properties, including in major cities, popular seaside and mountain resorts, as well as in areas of natural beauty in more remote parts of the country.
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Understand the latest market trends and future growth opportunities for the Lodging industry in Bulgaria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Lodging research and analysis database.
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