Tourism concern TUI will open an aparthotel in Bulgaria's picturesque Black Sea town Tsarevo.

The news was broken after a meeting of Tsarevo mayor Petko Arnaudov with the manager of TUI - Bulgaria Valentin Yosifov and a delegation of TUI Nordic.

Tsarevo was picked by the German tourism concern as a main center for its investments in Bulgaria's southern Black sea region.

It is the first time in Bulgaria that TUI will make a direct investment through its Bulgarian subsidiary TUI - Bulgaria.

The construction of the Serenity Bay hotel will be completed in June. The project includes 158 apartments and 62 studies and will be with a capacity of 600 beds. The hotel will be mainly orientated to the Scandinavian tourists and will function as a base for family tourism.

Back in November 2005 at the Eighth Real Estate & Investment Forum RINFOR, TUI officials its assessment of Bulgaria as a tourism destination. The Germans remain the biggest part of foreign tourists in Bulgaria, accounting for 49% of all visitors.

According to a survey, conducted by TUI among German tourists, who have visited Bulgaria, it is preferred because of the high purchasing power they have here, German speaking locals and convenient family destination.

TUI customers' satisfaction in Bulgaria is below average but with an excellent TUI service.