62.9% of travel managers intend to reduce the price of package services

In May 2020, the National Statistical Institute of Bulgaria has continued the monthly inquiry survey of the managers of accommodation establishments to gather accurate and timely information on the state and development of their businesses during the state of emergency and the ensuing epidemiological situation in the country.

In the current situation in April, 49.1% of the respondents consider offering their clients an alternative period to use the reservations. At the same time, 62.9% of them intend to reduce the price of package services and 46.7% – the price of night spent.

As regards to the employees, 37.2% of managers have taken ‘unpaid leave’ as a measure, followed by ‘release/ reduction’- 36.8%, and ‘paid leave’ – 31.7%. 19.8% of the managers have benefited from the ‘60/40’ measure as 10.8% of them have applied ‘remote form of work’ or ‘reduction the salaries of staff’.

In April, most of the managers (82.3%) report a decrease of revenues from the activity compared to the previous month, and 16.5% of them indicate that there is no change.

In short term (in the next one month), 40.8% of the managers predict that they will be able to serve ‘up to 50%’ of the expenditures of own account activity, 16.0% of them – ‘up to 100%’, and 42.0% of the respondents indicate that they will not be able to handle by themselves.

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