How to Buy a Hotel in Bulgaria and Start Your Own Business

When moving to Bulgaria, many people face a choice — what kind of business to start. One of the most profitable options is to buy a hotel and get involved in the hospitality business. Due to the 2020 pandemic, the flow of tourists to Bulgaria has, of course, decreased. But all crises pass, and the prices of commercial property are currently as attractive as they can be, so now is the perfect time to think about investments. On offer for sale are small family hotels, guest houses, large hotels and complexes.

In real-estate agency databases and media listings, offers for the sale of hotels and guest houses are not often to be found. And the price is not always stated in the offers available. That is because buying hotels, especially when it comes to a ready-made business, is a matter approached carefully and meticulously. The price depends on a large number of factors.

The purchase process includes several stages:

• Choosing the location. On sale are hotel complexes in Varna, Burgas, Nessebar, Pomorie, the Sunny Beach resort, Saint Constantine and Helena, and Kamchia. There are guest houses in small villages and areas famous for eco-tourism and the regular hosting of national festivals.
• Determining the budget. Depending on the condition of the building, you can buy a guest house in Kavarna by the sea for €190,000, a hotel with a mineral pool in Bansko for €390,000. A hotel with a restaurant in the city of Varna — €550,000. An intermediate option would be to acquire a floor in an apart-hotel.
• Choosing the type of property. It can be a hotel, a complex, a floor, or a guest house.
• Viewing the properties offered by Bulgaria Avenue. We offer real-life viewings and virtual tours. 
• Agreeing on the terms of the deal, checking the documents. 
• Registering the sale and purchase.

Here ends an important step of your business — the purchase of the hotel. New owners often want to give it a new style, carry out renovations, replace the furniture. But if the property is fully ready, furnished, and has categorisation, all that remains is to start operating. 

Who is interested in buying a hotel

Anyone who wishes can buy a hotel in Bulgaria. There are no restrictions here. The main thing is the desire and the interest. It is curious, but within just one or two years a hotel changes depending on who becomes its owner.
Among our buyers are:

• Businessmen and investors. They develop the infrastructure and expand the range of services. 
• Families with children. In properties owned by people with children, a special atmosphere reigns. A bright interior, children’s rooms, babysitting services — these are the things owners pay particular attention to. 
• Pensioners. Many of those who have retired in Russia and Ukraine are happy to become owners of commercial property. For them it is a place of residence and a source of additional income.  With their light touch, the properties acquire a particular cosiness and charm. 

Which hotel to buy in Bulgaria

The choice of a hotel by the sea or in the mountains of Bulgaria depends on many factors, in particular on what type of building you are looking for.

We suggest considering the options:

• Small family three- and four-storey hotels. Prices start from €380/sq. m. 
• Separate floors or parts of buildings. Depending on the location, area, and utilities, the property can be bought for €400–750/sq. m.
• Residential complexes with a garden, pools, a spa centre, shops, cafes, and parking. Prices for properties of this kind are agreed separately. 
• Complexes of villas and townhouses. Ready-built property costs from €800.
• Small guest houses for the simultaneous accommodation of 2–3 families. The price per square metre is from €120.
• Plots with an approved building project cost from €120 per square metre.

Buying a hotel in Bulgaria — legal nuances

When planning the acquisition of a hotel or guest house by the sea, a careful approach to the legal side of the matter is required. 

The following are important:

• The property must be properly registered and have Act 16. 
• Foreigners do not have the right to buy land in Bulgaria. Property with a plot of land is registered to a legal entity. 
• Hotels and guest houses must be registered with the town hall. Categorisation is mandatory.

Buying a hotel in Bulgaria and starting your own business is a wonderful opportunity for those who are planning to relocate but do not want to or cannot work as an employee. In our database there are advantageous offers. When there is interest on the part of buyers, we approach the owners of hotels in various localities and put together unique offers.