Stefan Sharlopov. Hard Work and Integrity.
Stefan Sharlopov, the founder of the first private hotel chain in Bulgaria, was born on October 14, 1962, in the city of Burgas. The owner of Sharlopov Group EAD completed his higher education in 1986, graduating in Bulgarian Philology from St. Cyril and St. Methodius University of Veliko Tarnovo.
Since 1991, he had been involved in private business and investments, creating the well-known brands Royal Cake and Royal Potatoes, as well as the industrial group Royal Foods Holding AD, with production facilities in Bulgaria and Russia, the bottled mineral water company Devin AD, and the investment company Royal Assets Management EAD.
In addition to being the owner of the Sozopolis Holiday Village — a recreation of the architecture, style, and spirit of the old town of Sozopol — Stefan Sharlopov was also a partner and principal investor in E&S Watches & Jewelry Ltd., Crystal Paradise Ltd., the Class A residential building Park Residence located on Vitosha Boulevard in Sofia, and other projects.
Stefan Sharlopov also served as Chairman of the Bulgarian Union of Balneology and SPA Tourism and Deputy Chairman of the Bulgarian Tourism Industry Association.
The owner of Sharlopov Group EAD graduated in 1986 with a degree in Bulgarian Philology from St. Cyril and St. Methodius University of Veliko Tarnovo.
How do you understand the term “social justice”? Does it really exist?
I understand the concept of social justice very well, even though we live in a world where money, personal interests, and what we call capitalism are highly developed. Yet even in such a world, social justice is still possible. To me, it means that as an employer and investor, I should think not only about my own interests, but first and foremost about the interests of the people who work for me.
In other words, when I, as the sole owner of my business — whether small or large — make sure that my employees are paid on time, treated fairly and respectfully, and even rewarded with a kind word or a bonus, these are all things that, in my view, form the foundation of social justice.
On a global scale, social justice also exists, but we live in times when people sometimes lose their sense of direction and the humanity within themselves. For someone like me, an employer, to be socially just, he must first be human in his soul. Otherwise, everything turns into endless self-interest, and social justice disappears completely.
And if we are talking about whether people can truly be equal, my answer is no. But that is not social injustice. One person may feel happy planting a single tree, another by planting one hundred, and a third may feel fulfilled only after planting an entire forest. People are different, and there is nothing wrong with that.
However, every person is a genius in their own way, and everyone must discover the unique gift that God has given them in order to fulfill themselves. If people search for exactly that in life — if they are hardworking, persistent, ambitious, and positive, and if they do not imagine that anyone owes them success — then they will achieve what God has destined for them.
It seems that God has chosen for me to work on larger-scale endeavors. That does not make me different, better, or worse than anyone else. It simply means that in my life I am drawn to bigger and more ambitious projects, which has both advantages and disadvantages. The disadvantage is that such projects demand enormous effort. The advantage is that when you succeed — if you succeed — the result of your work is not only financial, but also a tangible legacy that you leave behind.
Your first million?
It is perfectly natural for such a question to be asked when a person transitions from being a journalist to becoming an entrepreneur. I do not know whether you remember the year 1989, when the political system changed — whether we call it perestroika or a revolution makes little difference. At that time in Bulgaria, people had money in the banks and cash at home, but what was missing? Goods. There was nothing on the market.
When I left journalism, I entered the market as a trader. Back then, it was easy, because whatever you supplied to the market — whether flip-flops, whisky, cigarettes, food products, or household goods — it disappeared immediately, because people had money to spend. That was how I began my commodity trading ventures with every kind of product except weapons, drugs, and prostitution.
By 1994, although I had earned my first million earlier — probably around 1991 — I had accumulated enough working capital to buy goods from Western Europe, import them into Bulgaria, and sell them at a profit, again and again and again. That is when money begins to grow. It turns into more goods, more assets. Every resource I had was constantly reinvested in trade.
However, I realized that everyone was getting into trading, and so I decided to focus on something others were not pursuing — industry. Together with my partners, I invested the money I had accumulated into Bulgaria’s first factory for cakes, Swiss rolls, and cake bases. A total of $2.5 million was invested in that factory, half of which came from my own funds.
Before long, the factory began generating strong returns, after which we built a second factory for mineral water, a third for blanched potatoes, and that is how I became an industrialist — moving from trade into industry.
Royal Foods AD was founded in 1995.
Is hospitality currently your main business? You are often described as the most successful hotelier in Bulgaria.
I would not say that I claim to be the most successful hotelier in Bulgaria.
That is how the Bulgarian media describe you…
Yes, perhaps because during the crisis my hotels maintained a high standard and even continued to grow as businesses. But there are many hoteliers who are much larger than I am. Their product, however, is different — mass-market hotels with huge capacity, a thousand rooms or more — whereas all of my hotels have their own character. They are smaller, around 100–120 rooms, like diamonds, each with its own individuality. In other words, we are a family-owned hotel company.
Why did I choose the hotel business? Well, after I sold my industrial businesses, significant capital was accumulated. That was when jewelry, hotels, restaurants, and real estate came into the picture. Real estate projects such as this one — the Sozopolis complex — are developed at a very high level, not just ordinary real estate. You know how construction is done in Bulgaria: there are quality projects, and there are others that are not quite so good. I can guarantee that this project has no equivalent in Bulgaria. The same applies to a building in Sofia, located at the entrance to South Park, designed in an American style and called Park Residence. It has become a landmark building for the city of Sofia.
I invest in quality projects, and I see that even during times of crisis they still have their market. Real estate is a good business if you truly know what you are doing. At the same time, my business portfolio is diversified so that I do not “keep all my eggs in one basket.” You never know what surprises God may have in store for you. If one business is struggling, another should be able to keep you stable and secure.
Fortunately, thank God, I have not had an unsuccessful business so far, although I have faced many difficulties, including here at the Sozopolis complex, where in order to complete the project I had to secure substantial bank financing. Today, however, Sozopolis is a fully completed and successful development with no debt.
For me personally, as someone born and raised in Burgas, this complex is also the place where I would like to grow old.
Park Residence Sofia.
In one of your interviews, you said that a business should belong to one person. Does that mean that out of your five heirs, you will choose only one to entrust with your business?
Yes, that is correct. Look at nature. In a herd of deer, there is one leader. In a pack of wolves, there is one leader — not five, not even two. Because if a wolf pack has two leaders, there is no real unity. The same applies to a family business. If there are two people responsible for the direction of the business, the outcome will be negative, one hundred percent. There is simply no way for both of them to think in exactly the same way.
That means that as long as I am alive and well, I lead the pack — I lead the family. Whatever decision I make stands. No one has the right to question my decisions. If I am wise and lead the family in the right direction, then the result will be good. And if I make a mistake — which is always possible, no matter who you are — then that is still my decision, and no one has the right to judge me for it.
At the moment, my eldest daughter serves as the Executive Director of all my businesses, including the Sozopolis complex. She is the operational leader — proven, educated, and experienced. As for my other children, when they grow older, we will see what they want to do and whether they are capable. Because if someone is not suited for the business, it is actually better for them to stay away from it. An unprepared person can destroy everything that my eldest daughter and I have built, and that is something we will never allow.
That is a very strict position. Aren’t you concerned that it could create competition within the family?
I am not concerned, because this is my judgment. If you allow an unprepared person into the business — someone who is simply not capable, even if that person is your own child — they can destroy everything you have worked for over so many years. So what would the cost of that be? Does being my child automatically give someone the right to manage the business? No. Absolutely no right.
Because tomorrow I could decide to sell everything. That would be my decision. Or I could donate all of it to the Church. That would also be my decision. I am not obligated to provide my children with anything beyond a home, an education, and the freedom to choose their own path. That is all. From there on, the road is open and the world is wide.
That is exactly how I raise them: study, work, and earn your place. I give them two options that I personally recommend. One is to join the family business — you work, receive a salary, and when I am no longer here, all of you will be equal heirs to what I have created, while also being capable of managing it. The other option is, if you do not want to work in the family business, then build your own. In that case, I can be your consultant, to keep you from making foolish mistakes, and I can also be your lender.
Which means that if I believe your business idea is good, I may give you a loan — with interest — and you will repay it. Without exception. Otherwise, I will take over the business. There is no such thing as “you are my son” or “you are my daughter,” or “because my father had it, now I deserve it too.”
In life, the price is high, and everyone must pay it in order to one day be able to say: “This is who I am.”
The Sharlopov family celebrates the anniversary of Stefan Sharlopov.
Where will your children receive their education — in Bulgaria or abroad?
At the moment, my children study at the French School in Sofia. Stefani wants to become a banker because she understands money — I can see it in her. She was born to make money, to work, and to develop real estate projects. She only has to look at something once and immediately understands what it is about.
Boyana, who previously wanted to become a doctor, now wants to become a lawyer. She constantly asks me questions like: “How much do they earn? What exactly do they do? Where should we study?” — and those are perfectly normal questions.
Eva would make a perfect administrator. She has been given the role of being “the Jew in the house,” the one who holds tightly onto the money and does not let it go easily. Sometimes she even stays silent for several minutes before finally saying yes to me.
As for the younger boys, I still do not know. They are too young. In my opinion, Iliya has very strong artistic talent, and it would be good if he could eventually channel it into business. Georgi likes attention very much — he will probably become an athlete because he has a huge desire to win and always wants to come first. Or perhaps an artist, I do not know yet; they are still very young.
But it is very good that my eldest daughter is already involved in the business, because the others can see the direction their sister is taking. And naturally, the questions follow:
“Dad, why does my sister drive a Mercedes?”
“Because she works.”
“And what if she didn’t work?”
“Then she would drive a Renault.”
“And what about us?”
“That is your choice. If you want to drive a Mercedes, then work, create value for the company, and the company will buy you a company Mercedes that you can drive.”
And that settles the matter.
Is there happiness in money? Or what does happiness mean to you?
Money is only a tool. Happiness lies in family, in the legacy you leave behind, in friends, in meaningful encounters, and in the opportunity to travel the world. That is happiness. Children. Family. Friends. Leaving a mark behind you.
And most importantly — having dignity. Without dignity, there is no happiness. You must be able to look people in the eyes. And that means never having stolen from anyone, never having deceived anyone, and standing by your word even without a written contract.
That is where a person’s authority and dignity truly come from.
Sharlopov Hotels
Which human weakness or flaw would you most easily forgive?
That is an interesting question. I can forgive a mistake when it happens because a person has gone beyond their level of competence — when they genuinely want to do the job well, but simply do not yet have the necessary ability or experience. In such a case, I can forgive the mistake.
But I will never forgive lying, deceit, theft, or laziness — under any circumstances.
Which quality do you value most in people?
Hard work and integrity.
Do you consider yourself an oligarch?
No. An oligarch is someone who merges business with politics. How could I be an oligarch when I have no access to public funds?
Is there a historical figure who inspires you?
Atanas Burov — he is a person I deeply admire. An exceptionally intelligent banker, politician, and man.
And of course Vasil Levski, when we speak about patriotism and the vision for Bulgaria.
Are you an Orthodox Christian?
Yes.
And on your fiftieth birthday, instead of asking for gifts, you asked for donations. The amount collected — 28,000 leva — was donated to the construction of a church in the city of Veliko Tarnovo.
Yes.
The church is the only active church in the country bearing the name of St. Euthymius. The architectural design was created by the late architect Teofil Teofilov. Construction began thanks to the patronage of local businessman Stefan Sharlopov, with the support of the Veliko Tarnovo Metropolitanate and donations from professors and students.
Is that where your spiritual mentor is based?
I graduated from the University of Veliko Tarnovo, and I have many memories connected to that city. As you know, later on I bought the Yantra Hotel there, which became a very successful hotel. After that came the eco houses in Bozhentsi.
One day, while sharing a glass of wine with my close friend Bishop Grigoriy and the former rector of the university, Professor Ivan Haralampiev — who during my student years was both my mentor and my friend — the conversation turned to a dream the professor had carried for many years. He shared that there was one thing he had never managed to accomplish: building a church dedicated to St. Euthymius.
That deeply intrigued me, and I decided that we would begin building this church of St. Euthymius. After a great deal of hard work, effort, and funding amounting to 350,000 leva, the church now exists, although it is still only at the structural stage. To complete it, at least the same amount will still be needed.
And I hope that once I finish the Sozopolis complex, I will have the opportunity to complete the church as well.
What do you dream about?
You know, I also have a dream that I still have not fulfilled. In fact, I have several. One of them is to sell Bulgarian tomatoes and peppers in Germany, because I want to show Germans what real quality is. I want them to understand that Bulgaria is not only associated with prostitutes, thieves, and troublemakers. Bulgaria is a wonderful country that remains deeply underestimated.
What is your favorite book?
I am deeply connected to the history of Bulgaria, and I do have a favorite book — the book about Tsar Samuel. It depicts a period in Bulgarian history marked by the intense conflict between Byzantium and Bulgaria, a time which, in my opinion, was a true test of the spirit and psyche of every military leader.
When you meet God, what will you say to Him?
God is within us every single day. Every morning, I do two things: “Lord, I pray to You,” and “Lord, I thank You.” Those are the first two thoughts that pass through my mind.
I pray to God to forgive all the foolish mistakes I make. And what do I thank Him for? For giving me the strength to enjoy this life.
Simply: thank You.