Bulgarian accommodation facilities expecting to shut down falls in Nov - survey

Bulgarian accommodation facilities expecting to shut down falls in Nov - survey

The percentage of managers of accommodation facilities in Bulgaria expecting to close their business in the short term due to the coronavirus crisis dropped on a monthly comparison basis in November, the National Statistical Institute (NSI) said.

As many as 0.7% of the managers of accommodation facilities in Bulgaria expect to discontinue their operations in a month's time in November, the NSI said in a statement, citing the results of a monthly survey conducted among some 1,600 managers of hotels, campsites, holiday villages and other accommodation establishments.

In October, 1% of accommodation facility managers said they expect to shut down their business in the short term.

The results of the latest survey show that in November 38.2% of accommodation facilities planned to maintain their operations in the following month, albeit at a lower capacity, compared to some 39.6% in October.

The share of accommodation facilities that planned to continue to operate as usual was 47.8% in November, up from 41.1% a month earlier. As many as 12.9% of the respondents said they plan to temporarily suspend their operations, down from 17.3% in October.

As many as 61% of accommodation facilities saw a decrease in their operating revenues on a monthly comparison basis in November, while 33.5% reported no change.

Less than half of the managers, 47.1%, expected in November that they will be able to service up to 50% of their operating expenses with own funds in the following month, while 21.3% said they will be unable to service any expenses with own funds. As many as 31.6% said they will be able to service up to 100% of their operating expenses in a month's time.

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