Signing of contract on reconstruction of hotel Intercontinental Belgrade in October, €22m

Manager of Intercontinental hotel in Belgrade, Miljan Vuksanović, announced that the negotiations with European Bank for Rehabilitation and Development on financing of €22m worth of reconstruction of that hotel were underway. Vuksanović said that it was expected that the negotiations with EBRD would be ended prior to October 2005. He added that the aim of the reconstruction would be the bringing of the hotel to the level of standard of world hotels in Intercontinental hotel chain.