Belgrade's bankrupt Union hotel listed for 2.5 mln euro

The 2,777 square metres hotel will be offered for sale at a public auction on June 14, the bankruptcy supervision agency said in a statement earlier this week.

The sale also includes Union's equipment, art paintings, stored supplies and outstanding liabilities. The hotel's estimated value is 594 million dinars, the statement read.

Hotel Union was built in 1922 and used to be among the largest hotels in the Serbian capital, offering 172 room with 241 beds, a report of daily Novisti recalls.

In 2002, amid big investor interest, Serbia sold 70% of Union to local businessman Milorad Majkic, former owner of Belgrade's casino Alexandar, for 150 million dinars, several times higher the 21 million dinars ask price. It was the first privatised hotel in Serbia, Novosti notes.

(1 euro = 117.112 dinars)