IHG, LUSS Leisure agree to build Crowne Plaza hotel on Serbia's Zlatibor mountain
International news
British multinational hospitality company InterContinental Hotels Group (IHG) and Serbia's company LUSS Leisure have signed a contract for the construction of a Crowne Plaza hotel on the Zlatibor mountain in western Serbia, one of the country's top tourist destinations, the town administration of Cajetina, where Zlatibor is located, said.
LUISS Leisure will act as an investor on the project, while the planned hotel will be managed by Belgrade-based Peritum Consulting, the Cajetina town administration said in a press release on Saturday.
The value of the entire investment, which will also include the construction of seven residential buildings near the hotel, is estimated at between 70 million euro ($82 million) and 80 million euro, while the value of the hotel itself is estimated at 30 million euro to 35 million euro, as per the statement.
The complex will feature 850 accommodation units, including 225 hotel rooms.
The hotel, which will employ around 120 people, is planned to be completed in up to two and a half years.
by Valentina Bajic