May 9 (SeeNews) - Bulgarian hotel operator Sofia Hotel Balkan [BUL:SHB] said its standalone net loss expanded to some 1.07 million levs ($587,732/547,080 euro) in the first quarter of this year from 1.03 million levs in the like period of 2023.
The company's overall revenue leapt by an annual 20% to some 2.95 million levs in January-March, Sofia Hotel Balkan said in an interim financial statement last week.
Income from overnights and food revenue both added 23% on the year to 2.01 million levs and 595,000 levs, respectively, while rental revenue rose by 2.8% to 183,000 levs.
Sofia Hotel Balkan, which runs the Sofia Balkan Palace hotel in central Sofia, saw its operating expenses widen to 4.02 million levs in the review period from some 3.49 million levs a year earlier due to higher interest costs and expenses for hired services and remuneration.
Shares in Sofia Hotel Balkan last traded at 45.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.
(1 euro = 1.95583 levs)