Investments play a key role in the tourism enterprises’ policy for quality improving and for increasing of competitiveness of the hotel products offered to the market. By definition “investments” are usually regarded as an input of financial proceeds for acquiring of assets aimed at achieving of income, increase in capital or other kinds of positive results for a long-term period. Further to this, investments in real assets, often named in Bulgaria by tradition as “capital investments”, represent one of the main fields of investment activities of the hoteliers’ businesses. The process of investing in real assets, such as building of a hotel superstructure, can be divided to several stages each of them associated with a particular number of specific risks. The detailed knowledge of this particular type of investment process could allow easily the hotel firms to make their right investment choices.


Key words

Investment process, investment in real assets, specific risks



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