BUSINESS IN SHORT

Hundreds of Slovak hotels up for sale

HUNDREDS of hotel owners in Slovakia are selling their properties. The main reason is low occupancy rates, and the excessive number of beds on the market.

HUNDREDS of hotel owners in Slovakia are selling their properties. The main reason is low occupancy rates, and the excessive number of beds on the market.

“At the moment we register the sale of 1,260 accommodation facilities, including cottages, lodging houses, etc., of which 696 are hotels or guesthouses,” said Marián Tinka from the TopReality.sk website, as quoted by the Hospodárske Noviny daily.

He added that the average time taken to sell a facility is three months, but it can reach up to a year, depending on the location.

Some hoteliers also say that there are too many entrepreneurs active in the hotel business.
“The situation on the market has not been regulated for some time, and we feel big overpressure,” said Zuzana Hricová, manager of Golden Royal Boutique Hotel in Košice, as quoted by Hospodárske Noviny.

On the other hand, Marek Harbuľák, general secretary of the Association of Hotels and Restaurants, says that the problem is the low number of guests, with Slovakia still unable to exploit the potential of some of its regions.

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