The five-star Hilton Sofia hotel, which is run by Irish private conglomerate Quinn Group, operates under a 20-year management contract with hotel operator Hilton International, part of U.S.-based Hilton Hotels Corporation.
The construction of the hotel, which was opened in March 2001, was estimated at USD 46.7 million.
Hilton Sofia has 245 rooms, 17 executive suites and one presidential suite.
The hotel was first owned by the Company for Luxury Hotels, which was established in 1994.
Key shareholders in the company are a Dutch-registered subsidiary of France's Cibex, the municipality of the capital Sofia and Bulgaria's biggest construction and engineering firm Glavbulgarstroy.
In the summer of 2005, Irish conglomerate Quinn Group purchased the 49.5% stake held by the Sibex for EUR 7.17 million.
The Irish company paid another EUR 8.8 million to buy-out the remaining shares in the hotel by May 2006.
The hotel reported occupancy rate of 58% for 2004, accommodating 58,000 guests.
Hilton claimed a 2004 market share of 30% in the capital Sofia where it competes with Sheraton Sofia Balkan hotel, Radisson SAS Sofia, Kempinski Hotel Zografski and Interhotel Grand Hotel Sofia.
Headquarters
bul. Balgariya 1
Sofia; Sofia - city;
Postal Code: 1000
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