The Black Sea city of Varna is ready to receive holidaymakers with a 10-per cent increase in the number of hotel beds since 2004.

According to the Varna Territorial Statistics Bureau, a total of 18 new hotels and three holiday complexes opened last year in resorts close to the city. There are now 287 hotels in Varna, compared to 269 in 2004, offering a total of 60 428 beds.

Five-star hotels account for 10.7 per cent of all hotels, while 28.9 per cent are in the four-star category, 29.6 per cent in the three-star category, and 30.8 per cent in the one and two-star categories.

The five-star Grand Hotel Varna at St Constantine and St Elena has just reopened its doors after being closed for two months for major renovations.

There have been substantial changes to the foyer and reception area, the indoor pool has been completely rebuilt, further changes have been made on the mezzanine floor, and a new staircase built. There are also plans for a business centre.

Meanwhile, Bulgarian company Starcom Holding has unveiled plans for a 20 million euro multi-purpose sports complex with entertainment facilities in Varna.

Starcom says that the complex, to be completed as a joint venture by Starcom and Varna municipality, will be the biggest in the Balkans. The 7.3ha complex is to include athletics, basketball, volleyball, wrestling, handball and martial arts halls, gyms, tennis courts and a skating rink. The sports complex will be able to host European and world championships in handball, volleyball and basketball. Provisionally scheduled for completion in 2008, the complex will enable Varna to submit a bid to host the World Indoor Athletics Championship in 2010.

The complex is also to include a spa complex, a children’s playground, a parking area and a park.

In a separate development, UK-based Orchid Developments Group Ltd, a property developer and hotel operator in Bulgaria, has completed the acquisition of a 6 500sq m plot in the centre of Varna for about eight million euro, the company said in a notice to the London Stock Exchange. This was reported at the end of March.

The land has zoning approval for a mixed-use development of retail and residential buildings.The company intends to develop a mixed-use complex with a floor space of about 35 000sq m. The completed development cost is estimated at about 26 million euro, including the cost of the land. The purchase has been financed from a seven million euro debt facility and Orchid’s own resources.

Orchid said it was continuing to make strong progress and is actively looking for new sites. “We remain confident that Orchid can continue to pursue exciting and profitable opportunities in both the commercial, residential and retail markets and will continue to pursue land acquisitions in our key areas, Sofia and Varna,” said Orchid chairman David Holland.