Miodrag Kostić invests - company "Falkensteiner Michaeler" to run "Genex" hotels on Kopaonik mountain

(Miodrag Kostić)

The owner of MK Group, Miodrag Kostić, has selected Austrian tourist group "Falkensteiner Michaeler" to be his partner in the takeover of hotels "Grand" and "Sunčani vrhovi" on Kopaonik mountain.

Kostić contacted "Falkensteiner Michaeler" because one of the conditions for participation in the tender was the investor's "know how" in hotel management, and the Austrian company has significant references in that domain. This was revealed by the source from Vienna who also said that the Austrians were only going to run the hotel and that they were not going to participate in the financing of the procurement.

This Austrian company currently invests about 650m EUR in the hotels. One of the biggest projects of "Falkensteiner Michaeler" is hotel complex "Punta Skala" near Zadar, worth 220m EUR, which should be opened in spring 2009. In addition, three more hotels should be opened in 2009 - two in ski centers in Austria and one in Bratislava. In the region of Krasnodar, Austrians and their Russian partners are currently investing about 450m EUR in hotel management business, and they also own hotels in Italy and Czech Republic.

The company is registered in South Tirolia, and the owners are Italian Erih Falkenštajner and Austrian Otmar Miheler.