Toncev Group opens New City Hotel in Nis – Investment worth EUR 1.5 million

Nis got a new hotel on Wednesday, August 3, called New City Hotel, located in the building of the former Grand Hotel. The new owner, Toncev Group, announced that it had invested EUR 1.5 million in the renovation and adaptation of the hotel building.

The hotel manager, Nenad Rokvic, said that the hotel had 50 rooms, but that the capacity would be increased to 78 rooms and apartments by the end of the year. According to Rokvic, New City Hotel will also get a spa center by the end of the year.

New City Hotel used to be owned by Srbijaturist and was called Hotel Nis, but was closed for years, initially due to financial difficulties that Srbijaturist was going through, and then due to a long court dispute that the company had with Uniworld, owned by Srba Ilic.

The well known American businessman of Serbian origin won the hotel in court, but soon lost it, again in court.

In March this year, the court in Nis took the hotel away from Uniworld due to the debt for the renovation, and assigned it to the company of Novica Toncev.

Uniworld owed RSD 180 million and EUR 520,000 for the renovation of Grand Hotel, and the decision on the assignment of the hotel to Toncev Group was reached after two failed attempts to sell it at an auction.