BSTDB to help finance Bulgaria's first Marriott hotel with €58.3m loan

Black Sea Trade and Development Bank (BSTDB) and Bulgaria’s Postbank - a unit of Greece’s Eurobank - will lend €58.3 million for the construction of the first Marriott hotel in Bulgaria. 

The 12-year loan will be made to I Tower Development, a special-purpose company set-up in Bulgaria to build the 107m-high hotel, which will be on Macedonia Square in Sofia and is expected to be completed in 2020.