June 1 (SeeNews) - Serbian diversified conglomerate MK Group has opened the first hotel under the Sheraton brand in the country, the Serbian government said.
MK Group invested 15 million euro ($17.5 million) in the opening of the four-star hotel in the northern city of Novi Sad, which will be operated under a franchise agreement with Marriot International and will have a workforce of 120 employees, the government said in a statement on Thursday.
The hotel is located near the Novi Sad Fair and has a floor area of 13,000 square metres, 150 rooms, nine apartments, one presidential suite, seven conference rooms and a spa centre.
The project proves that Serbia becomes an attractive tourist and investment destination, prime minister Ana Brnabic said during the opening ceremony.
MK Group acquired the building of the hotel from Serbian entrepreneur Vojislav Gajic, the owner of construction company Aleksandar Gradnja, at the end of 2016. Gajic had invested about 11 million euro in the building and was planning to open a hotel under the Holiday Inn brand but the negotiations with the US company failed, according to Serbian media reports.
($ = 0.855242 euro)