InterContinental, Swissotel and Ritz-Carlton coming to Belgrade, construction underway on the Danube and in Vrnjacka Banja, Serbia also receives its first “mining hotel” – 2025 RETROSPECTIVE, investments in TOURISM

Four million tourists in 11 months – that’s how many, according to official data, Serbia had in almost all of 2025. The number is not small, but it is lower than we are used to in previous years, so in tourism they are increasingly talking about a “slight slowdown,” with the hope that the end of the year will improve the overall balance (we are still waiting for official figures from the end of the year).

And then comes a comparison that puts everything in a different perspective: for 2027 and the holding of EXPO, estimates speak of around four million guests in Belgrade in just three months. In this light, the accelerated construction and reconstruction of accommodation capacities in the capital seem almost like a necessity, and not just a mere investment euphoria.

Major international hotel brands such as InterContinental, Swissotel and Ritz-Carlton are also entering the Belgrade market. Although EXPO 2027 represents a strong short-term impulse for some investments, only the period after the event will show whether the market is able to absorb significantly increased capacities, especially in the segment of higher-category hotels, or whether some investments will require additional adjustments to real demand.

At the same time, some well-known hotels in New Belgrade have changed owners, which further indicates a redistribution of interests and capital in the sector.

Construction is taking place in tourist centers outside Belgrade as well, on Zlatibor, in Golubac, Krusevac, Vrnjacka Banja... And below, we bring you the ten most read articles in 2025 in the field of tourism investments.

1. New Belgrade Hotel IN Sold

In September last year, New Belgrade’s IN Hotel got a new owner, the company D.N.Z.- Neskovic doo Beograd, which was registered with the Serbian Business Registers Agency as the new owner.

Hotel IN is categorized as a four-star hotel, has 187 rooms and suites, conference rooms, a restaurant, a café, a fitness and wellness center, as well as parking.

The company D.N.Z.-Neskovic is part of the Neskovic business system, which was founded in 1991 in Bijeljina, and has been operating on the Serbian market since 2008. It also owns the Balkan Hotel in Belgrade, which will open in 2023.

2. Garni hotel in Novo Selo near Vrnjacka Banja

A garni hotel with a restaurant - Bonus - will be built in Novo Selo near Vrnjacka Banja, according to the Urban Planning Project for which the Municipality announced a public presentation.

The investor of the project is a natural person, and the developer is Studio Arhitekton I. D. from Vrnjacka Banja.

There are no buildings built on the plot of land measuring 2,261m2. The construction of a building with a floor structure of GF+1, with a gross area of 1,208m2 is planned.

3. Zijin buys the Belgrade hotel Falkensteiner

In April, the mining company Serbia Zijin Mining doo Bor became the sole owner of the company Drustvo za projektovanje i gradnju Alba Invest doo Beograd, which owns the famous Belgrade hotel Falkensteiner.

Serbia Zijin Mining took over 100% of the ownership of the company Alba Invest doo from the previous owner, the Dutch company MF Development B.V. based in Rotterdam, and the change was officially registered with the SBRA.

4. New swimming pool on Zlatibor

Your interest in the article about a new swimming pool being opened on this mountain in Drenova confirms that tourists are still attracted to Zlatibor. A well-maintained sandy beach, free entrance, deck chairs and parasols in the heart of nature, surrounded by forests.

The swimming pool is ideal for all generations: families with children, young and old, and a special impression is made by the peaceful and pleasant atmosphere. It is located only 15 kilometers from the center of Zlatibor.

5. Golubac getting an exclusive Aquamarine hotel with a private swimming pool on the Danube

Vladimir Adzic, CEO of HTP Plaza, announced for eKapija that this company planned to invest EUR 5.4 million in the construction of a new luxury hotel, Aquamarine Hotel Golubac. The opening is planned for 2027.

The hotel will have 96 accommodation units with 216 beds, a spa and wellness center on almost 400 m2, indoor pools for children and adults, Buffet and A la carte restaurants with a capacity of 290 people, as well as a congress center for 220 guests.

A special attraction will be a private swimming pool on the Danube, which will make this hotel complex unique in Serbia.

6. Delta District and InterContinental Hotel in New Belgrade

Delta Real Estate is implementing one of the most significant projects on the domestic market – Delta District. It is a unique residence linked to a well-known brand, which combines residential, business and hotel segments, and is being built in one phase.

The first tenants are expected to move into the residential part in 2027, while the InterContinental hotel will open at the end of this year. The investment in the hotel alone is estimated at more than EUR 100 million.

7. Unfinished Aqua Park in New Belgrade built by Zarko Paspalj being demolished

In the middle of the year, demolition of the unfinished Aqua Park in New Belgrade began in Block 44, the construction of which was started by Zarko Paspalj and his business partner 20 years ago. In the meantime, that attractive land, with an area of more than 70,000 square meters, right next to the Sava River, has acquired new owners.

As stated, the plan is to build an eight-story building. That land along the Sava River has an area of 68,132 square meters, and its 100% owner is the company River City.

Investors Vladimir Janković and Zarko Paspalj began construction on that land in 2005, but the former basketball player withdrew from that project. The works were suspended in 2006. The city’s chief urban planner Marko Stojcic stated that the planned purpose of the location remained unchanged, that is, that it was intended to house sports facilities and complexes on that site. Stojcic said that the position of the City of Belgrade had not changed, namely that apartments and commercial space could not be built there.

8. Hotel instead of Bagdala restaurant in Krusevac

In August, the City of Krusevac made available for public inspection the Draft Amendments to the Detailed Regulation Plan for “Park Bagdala” in Krusevac, according to which a city hotel will be built in the park, instead of the current Bagdala restaurant.

The investor of the project is the company Realtor doo Krusevac, which is the owner of the Bagdala restaurant, and the plan was developed by the Krusevac-based Centar za urbani razvoj i arhitekturu Paradigma.

According to the project, the plan is to build a city hotel with a floor structure of GF+3, on the plots where the Bagdala restaurant is located and on those within the city park.

9. State subsidy for the construction of a hotel within the EXPO complex

At the end of the year, the State Aid Control Commission approved the allocation of almost EUR 16 million in state incentives for the construction of the luxury Swissotel hotel in Surcin, within the EXPO 2027 complex.

This is individual state aid that will be awarded to the company EURO KB RENT doo Beograd for the implementation of an investment project worth a total of almost EUR 80 million. The planned hotel will operate under the international brand Swissotel, which is part of the Accor group, and will include an accommodation block, a large multifunctional congress center, a spa & wellness area with two swimming pools, as well as accompanying facilities.

10. Ritz-Carlton on the site of former Jugoslavija

The Danube Riverside company, which is owned by the Millennium Team company, also received a state subsidy of EUR 30 million for the construction and furnishing of the Ritz-Carlton hotel on the site of the demolished Hotel Jugoslavija in Zemun.

The project envisages the construction of buildings of various purposes and floor structures, in accordance with the applicable planning documents and defined urban conditions. The complex will be implemented in phases, and will consist of a residential tower with commercial facilities, with a floors structure of 3B+GF+42+L, a hotel building with commercial facilities, with a floor structure of 3B+GF+9, a business tower, with a floor structure of 3B+GF+34+L and an independent commercial building (outlet), with a floor structure of 3B+GF+1.

We invite you to see which investments marked the year 2025 in the areas of REAL ESTATE, TRADE CENTERS, TRANSPORT and AGRICULTURE AND FOOD INDUSTRY.

I. Zikic

D.N.Ž.-NEŠKOVIĆ DOO BEOGRAD

Studio arhitekton I.D. doo Vrnjačka Banja

Serbia Zijin Mining d.o.o. Bor

Falkensteiner Hotel Belgrade

Delta Real Estate d.o.o. Beograd

EURO KB RENT doo Beograd

Grad Kruševac

RIVER CITY DOO BEOGRAD

H.T.P. Plaža d.o.o. Beograd

Danube Riverside doo Beograd

River City

Danube Riverside

IN Hotel

Hotel Balkan

hotel in Novo Selo near Vrnjačka Banja

Falkensteiner

Aquamarine Hotel Golubac

Delta District

InterContinental

Hotel Bagdala

Hotel Swissotel in Surčin

Ritz Carlton

2025 retrospective tourism