Bulgarian accommodation facilities expecting to close decrease in Feb - survey

Bulgarian accommodation facilities expecting to close decrease in Feb - survey

The percentage of managers of accommodation facilities in Bulgaria expecting to shut down their business in the short term due to the coronavirus crisis fell on a monthly comparison basis in February, the national statistical office, NSI, said on Wednesday.

Some 2.3% of the managers of accommodation facilities in Bulgaria expect to close their business in a month's time, the NSI said in a statement, citing the results of a monthly survey it conducted during March 3-23 among some 2,000 managers of hotels, campsites, holiday villages and other accommodation establishments.

In January, 2.6% of accommodation facility managers said they expect to discontinue their operations in the short term.

The results of the latest survey indicate that in the second month of this year 39.7% of accommodation facilities planned to maintain their operations in the following month, albeit at a lower capacity, compared to some 44% in January.

The share of accommodation facilities that planned to continue to operate as usual was close the 45% in February, up from 37% a month earlier. Close to 12% of the respondents said they plan to temporarily suspend their operations, down from 15.2% in January.

As many as 35% of accommodation facilities saw a decline in their operating revenues on a monthly comparison basis in February, while 47.3% reported no change. According to the NSI's previous poll, 49% of accommodation facilities reported a decline in their operating revenues, while some 38% reported no change in the first month of 2021.

Over half of the managers, 50.4%, expected in February that they will be able to service up to 50% of their operating expenses with own funds in the following month, while 23.6% said they will be unable to service any expenses with own funds. As many as 25.2% said they will be able to service all of their operating expenses in a month's time.

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