Turkish-Owned Hotel in Bulgaria To Borrow 28.4 Mln Euro for Investments

SOFIA (Bulgaria), May 22 (SeeNews) - Four-star Sofia Princess Hotel, part of Turkish-based hotel chain Princess, plans to take out two investment loans worth a total of 28.4 million euro from Piraeus Bank Bulgaria, the hotel said on Tuesday.

Company officials were not immediately available to comment what projects it will finance by the loans. Piraeus Bank Bulgaria is a unit of Greece's Piraeus Bank.

Sofia Princess Hotel, owned by Turkish businessman Sudi Ozkan, will ask its shareholders to approve the loans at a meeting on July 6, it said in a statement filed with Bulgaria's official gazette.

Sofia Princess Hotel is one the biggest hotels in the Bulgarian capital Sofia. Other large hotels in the city are five-star Sheraton Sofia Hotel Balkan, Hilton Sofia, Kempinski Hotel Zografski, Interhotel Grand Hotel Sofia and Radisson SAS Sofia, and four-star Down Town and Central.

There is one more Princess hotel in Bulgaria, Trimontium Princess Hotel, located in Bulgaria's second biggest city of Plovdiv.

($=0.7438 euro)