DUBROVNIK HOTELS DUBROVNIK, March 2 (Hina) - Ten million German marks which have been granted by the HYPO Alpe Adria Bank to the Dubrava Babin Kuk hotel and tourism company will be invested into the reconstruction of three hotels in
the Dubrovnik area -- Minceta, Argosy and the President hotels. Chairman of the company's board of directors, Wilfried Butter, told a news conference two loans were granted, a short-term one for current assets, totalling three million marks, and along-term one of seven million marks for investments. HYPO Alpe Adria Bank's head of the foreign transactions department in Austria, Gerhard Suess, said the bank has granted funds on the basis of a five-year business plan of the hotel company's board. The plan was also drafted by financial experts of the EPIC group from Vienna which is in direct negotiations with the European Bank for Reconstruction and Development. The aforementioned hotels are expecting
DUBROVNIK, March 2 (Hina) - Ten million German marks which have been
granted by the HYPO Alpe Adria Bank to the Dubrava Babin Kuk hotel
and tourism company will be invested into the reconstruction of
three hotels in the Dubrovnik area -- Minceta, Argosy and the
President hotels.
Chairman of the company's board of directors, Wilfried Butter, told
a news conference two loans were granted, a short-term one for
current assets, totalling three million marks, and along-term one
of seven million marks for investments.
HYPO Alpe Adria Bank's head of the foreign transactions department
in Austria, Gerhard Suess, said the bank has granted funds on the
basis of a five-year business plan of the hotel company's board. The
plan was also drafted by financial experts of the EPIC group from
Vienna which is in direct negotiations with the European Bank for
Reconstruction and Development.
The aforementioned hotels are expecting to register about 230,000
overnight stays during this year's tourist season, which would come
to a 37 percent increase in relation to last year.
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