Банкеръ Weekly

Briefs

THE PRAVETZ HOTEL ESTATE IS EXPECTING ITS RENAISSANCE

The Pravetz Hotel Estate, famous during the totalitarian time, is expecting its renaissance. The rehabilitation is expected to commence soon and within two years the currently neglected hotel will turn into a luxury estate for high class tourism. Terra Tour, a daughter company of Agrohold, is the new owner. Besides rehabilitation Terra Tour has already undertaken the first steps in paying up Pravetz's liabilities to the state, which amount to approximately BGL700,000.
According to the tourist company's managers, the renewed hotel estate will rank among the most wanted destinations at the international tourist market. After the successfull investment made by our daughter company Agrima in the Zlatny Pjassatsy resort, through the Pravetz project we plan to close the seaside - mountain circle and to establish a totally new estate, which will not only attract well-off tourists to Bulgaria, but will also open satisfactory number of working places for the region, said to the journalists Vassil Zlatev, Agrohold's President. Vassil Zlatev is famous not only as the father of Valentin Zlatev, the Lukoil Bulgaria Chief Executive, but also as a veteran BCP First Secretary in the town of Pravetz. According to some comments, it is quite possible that in this investment Mr. Zlatev has put not only his entrepreneurial zest, but also some sentiments from the past.
The Pravetz estate is just 70 km away from Sofia and is within immediate proximity to the highway connecting Sofia to Varna. Besides the hotel, the sports grounds, the Shatra restaurant and some smaller facilities, there is also a pool and spa. According to Zlatev Sr. the Pravetz project has alsready attracted the attention of stable foreign investors.

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