Bulgarian accommodation facilities expecting to close decrease in Dec - survey

Bulgarian accommodation facilities expecting to close decrease in Dec - survey

The percentage of managers of accommodation facilities in Bulgaria expecting to halt their business activity in the short term due to the coronavirus crisis dropped on a monthly comparison basis in December, the national statistical office, NSI, said on Tuesday.

Some 2.7% of the managers of accommodation facilities in Bulgaria expect to shut down their business in a month's time, the NSI said in a statement, citing the results of a monthly survey it conducted among some 1,900 managers of hotels, campsites, holiday villages and other accommodation establishments.

In November, 3.5% of accommodation facility managers said that they expect to shut down their business in the short term.

The results of the latest survey also showed that in December 45.6% of accommodation facilities planned to maintain their operations in the following month, albeit at a lower capacity.

The share of accommodation facilities that planned to continue to operate as usual rose to 30.7% in the last month of 2020, compared to 21.8% in November.  As many as 19.2% of the respondents said they intended to temporarily suspend their operations, down from 28.1% a month earlier.

The majority of accommodation facilities, 59.0%, saw a decline in their operating revenues on a monthly comparison basis in December, while nearly 31% reported no change. According to the NSI's previous poll, some 74% of accommodation facilities reported a decline in their operating revenues, while 23.8% reported no change in November.

Most of the managers, 47.2%, expected in December that they will be able to service up to 50% of their operating expenses with own funds in the following month, while 31.1% said they will be unable to service any expenses with own funds. As many as 21.2% said they will be able to service all of their operating expenses in a month's time.

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