SS Konstantin and Elena Holding to invest in ski resorts

Dnevnik Daily, 2006-07-17

     SS Konstantin and Elena Holding, owner of the Black Sea resort of the same name, will invest in the construction of tourist facilities in the nation's ski resorts, the company's managing manager Marin Mitev said at a working meeting of the National Tourism Board. The company has already bought a 60 ha plot in Bansko, a ski resort in the Pirin mountain, South-western Bulgaria, which will be developed into a golf course and hotel complex, said Mitev.
     SS Konstantin and Elena Holding has also acquired land in Borovets, the ski resort 73 km south-east of Sofia, for the construction of a 5-star hotel for year-round tourism. The company plans to kick off in September the construction in the SS Konstantin and Elena resort of the 5-star Albicia hotel. The 800-bed hotel will take 2 years to build at a cost of 45 mln euro, said Mitev. The year-round facility will cater exclusively to spa-goers.
     Two apartment complexes in the SS Konstantin and Elena resort are expected to be finished in early 2007. Harmonia will consist of 2 apartment buildings with a total of 50 units. Esencia will consist of 2 apartment buildings.
     The SS Konstantin and Elena resort was acquired by Varna-based business conglomerate TIM on the local stock exchange in 2003.
     The resort, popular with Russian, German and Romanian holiday-makers, has reported a current occupancy rate of 90%.

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