Hyatt Regency Hotel in Sofia, Bulgaria: Building Excavation Complete

Written by on December 11, 2016 in Bulgaria, Business, Economy, Latest - No comments

Workers have completed digging deep into the ground on the former premises of a cheap hotel, which was operational here, until it was destroyed in a huge fire. For quite a few years, the ruin stood here, covered by huge ads. Since that old hotel was demolished, Vassil Levski Square looks very different, since there is a huge gap on its south-eastern side. But that will change. The first Hyatt Regency is in the process of being erected here. This project will change the character of this square and the entire quarter. 

In June of 2016, Hyatt Hotels Corporation announced the first Hyatt Regency right here, in the heart of Sofia. The hotel with 190 rooms is scheduled to open in 2018. It will have three restaurants and a rooftop bar. And it will definitely be one of the best hotels in Sofia.

In spring, Peter Norman, a senior vice president at Hyatt Hotels Corporation, had said, his company was “confident that the brand will resonate with the growing base of business and leisure travelers in Bulgaria”, meaning the investors do believe they hit the right moment for spending millions at this moment. And they might be right.

At this stage, the luxury hotel market in Sofia is relatively small. Not for long, since Hyatt is not the only giant investing in Sofia. A Swissotel and an Intercontinental Hotel will supposedly be built and opened as well. Hilton was the first luxury hotel chain to come to Sofia. Their hotel, located in the vicinity of the National Palace of Culture, was built in 2001, in a very different situation, both economically and politically.

“Pametnika Levski”, or Vassil Levski Square, so far accommodated the cheap hotel mentioned, until it was damaged beyond repair by that fire, the back of the National Art Gallery, a bank, two pharmacies and Z-Rock, a private Rock radio station. More banks are located in walking distance. So are the Musical Theater, the British Council, schools and two parks.

Also, several embassies and ambassador’s residences are close by, as well as the most important sightseeing spot Sofia has to offer, which is the Aleksandar Nevski Cathedral, along with the antiques market behind it. The main building Sofia University is around the corner as well. So is the University metro station.

So far, this vicinity was rather chaotic, what the traffic is concerned. Little fast food places and newspaper stands came and disappeared. The Hyatt Regency will for sure lead to changes, which will make the square look very different. And it will create quite a few jobs.

By Imanuel Marcus

 

 

 

The future site of Sofia’s Hyatt Regency hotel, at the beginning of December of 2016. Photo by Imanuel Marcus.

This is what the future Hyatt Regency in Sofia will look like, in 2018.

 

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