Hotels in Serbia until May 2005 - sold at average price of 1 million EUR

Average price at which hotels all around Serbia have been sold so far is about 1 million EUR. The highest price was that of the Belgrade “Rojal” ( about 5.5 million EUR, bought by Nada Popović), which is followed by Belgrade-based hotel “Union” (bought by Milorad Majkić for 150 million CSD with six-year repayment period ), Novi Sad-based hotel “Park” (the price was 103 million CSD, bought by Ratko Butorović), hotel “Lepenski vir” ( the price was 37 million CSD, bought by Milorad Pantić ), Belgrade-based hotel “Turist”, now renamed in hotel “Reks” ( the price was 85 million CSD, bought by Blažo Čabarkapa), “Morava” Čačak ( 360 million CSD – owner Dragan Topalović), Belgrade-based “Šumadija” bought by Njegomir Kilibarda. At the Belgrade Stock Exchange, Investment Fund "Midland resources” took over majority package in HTP “Stari grad”, which owns two famous Belgrade-based hotels “Kasina” and “Park”. Belgrade-based hotel “Moskva”, “Balkan”, “Majestic” and “Madera” entered privatization while old Law was in effect. They are owned by minor stockholders and, with the exception of “Madera”, they have not been offered at stock exchange. Majority package of stocks of famous Zlatibor-based hotel “Palisad” was sold in summer 2004 at the stock exchange to Mićić brothers, Vladimir and Miroslav, who bought 51.9 % of stocks of “Palisad” for about 1 million EUR. The hotel is settled on surface of 23,573 square meters and has 4 restaurants, all of them located in the striking zones of that Serbian destination of mountain tourism: restaurant “Zlatni bor” (478 square meters), restaurant “Srbija” ( 1,968 square meters), restaurant “Zlatiborska koliba” (164 square meters), restaurant “Sloboda” (906 square meters).