Share of Bulgarian accommodation facilities expecting to close more than doubles in Dec - survey

Share of Bulgarian accommodation facilities expecting to close more than doubles in Dec - survey

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

Some 1.7% of Bulgarian accommodation facilities' managers expect to discontinue their operations in a month's time in December, the NSI said in a statement, citing the results of a monthly survey conducted among over 1,800 managers of hotels, campsites, holiday villages and other accommodation establishments.

In November, 0.7% 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 December 37.5% of accommodation facilities planned to maintain their operations in the following month, albeit at a lower capacity, down from 38.2% a month earlier.

The share of accommodation facilities that planned to continue to operate as usual was 46% in December, compared to 48% in November. As many as 13.2% of the respondents said they plan to temporarily suspend their operations, slightly up from 12.9% in November.

As many as 35.6% of accommodation facilities recorded a decrease in their operating revenues on a monthly comparison basis in December, while 41.5% saw no change. Some 22.9% of managers participating in the survey said their facilities recorded a monthly revenue increase.

In December, less than half of the managers, 45%, expected that they will be able to service up to 50% of their operating expenses with own funds in the following month, while 24% said they will be unable to service any expenses with own funds. As many as 31% said they will be able to service up to 100% of their operating expenses in a month's time.

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