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Sofia Hotel Balkan gets Belgrade's Metropol Hotel
Belgrade,
11 May 2006
The Sofia Hotel Balkan, part of the Sheraton chain, has become the owner of Belgrade's Metropol Hotel, having purchased it from the Dunav Osiguranje insurance company for €27.4 million.
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Dunav Osiguranje General Director Mirko Petrovic said that the sale of the Metropol and Jugoslavia hotels has brought about a rise in the price of property, especially regarding hotels in Serbia, adding that the Metropol's new owner will invest additional €20 million.
According to Petrovic, this is a sizeable investment injection for the state because the final price is €11.4 million bigger than the initial one.
Petrovic said that employees at the Jugoslavia Hotel, which was sold for €31.3 million, and now at the Metropol as well, got or will get severance payments of more than €11,000, which is a fairly considerable amount for the sector. He recalled that more than half of approximately 500 workers in these two hotels have already received severance payments.
Owner of the Sofia Hotel Balkan Joanis Nikolaos Daskalantonakis announced that the company will not stop at the Metropol, but that it plans to buy two more hotels in Belgrade, since it is part of a project to create professional hotels in Southeast Europe.
He said the Metropol is the best hotel in Belgrade and will now be renovated to become a deluxe category hotel, level with the company's other 14 hotels in the region.
Serbian Minister of International Economic Relations Milan Parivodic stressed that Serbia received today an investment of almost €50 million, adding that the sale of the Metropol is the best kind of investment that can be realised in Belgrade.
According to Petrovic, this is a sizeable investment injection for the state because the final price is €11.4 million bigger than the initial one.
Petrovic said that employees at the Jugoslavia Hotel, which was sold for €31.3 million, and now at the Metropol as well, got or will get severance payments of more than €11,000, which is a fairly considerable amount for the sector. He recalled that more than half of approximately 500 workers in these two hotels have already received severance payments.
Owner of the Sofia Hotel Balkan Joanis Nikolaos Daskalantonakis announced that the company will not stop at the Metropol, but that it plans to buy two more hotels in Belgrade, since it is part of a project to create professional hotels in Southeast Europe.
He said the Metropol is the best hotel in Belgrade and will now be renovated to become a deluxe category hotel, level with the company's other 14 hotels in the region.
Serbian Minister of International Economic Relations Milan Parivodic stressed that Serbia received today an investment of almost €50 million, adding that the sale of the Metropol is the best kind of investment that can be realised in Belgrade.
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