DUBROVNIK PALACE HOTEL SOLD TO AMERICAN BUSINESS PEOPLE DUBROVNIK, July 4 (Hina) - A preliminary agreement was signed today on the sale of the "Dubrovnik Palace" hotel to two businessmen from America, director of the "Hoteli maestral"
joint stock company, which owns the Dubrovnik Palace, reported. Zrinko Kamber further said according to the preliminary agreement, the hotel will become the property of Henry Kallan and Peter Vlasic, businessmen from the United States. The two will be paying the Hoteli maestral company four million dollars for the hotel, and will reconstruct the hotel within 18 months from the start of the works. The hotel should end up with a four star rating. Planned funds for the reconstruction amount to 30 million German marks. The 60 staff will remain employed at the hotel. The hotel was one of the most prestigious hotels in Dubrovnik until it was devastated during the Serb shelling of the town in 1991.(hina) lml
DUBROVNIK, July 4 (Hina) - A preliminary agreement was signed today
on the sale of the "Dubrovnik Palace" hotel to two businessmen from
America, director of the "Hoteli maestral" joint stock company,
which owns the Dubrovnik Palace, reported.
Zrinko Kamber further said according to the preliminary agreement,
the hotel will become the property of Henry Kallan and Peter Vlasic,
businessmen from the United States.
The two will be paying the Hoteli maestral company four million
dollars for the hotel, and will reconstruct the hotel within 18
months from the start of the works. The hotel should end up with a
four star rating.
Planned funds for the reconstruction amount to 30 million German
marks. The 60 staff will remain employed at the hotel.
The hotel was one of the most prestigious hotels in Dubrovnik until
it was devastated during the Serb shelling of the town in 1991.
(hina) lml