Starting price for Belvedere Hotel in Dubrovnik set to EUR 24.3 million - Public auction on November 5th

(Belvedere Hotel)

Dubrovnik-based Belvedere Hotel in bankruptcy will be offered for sale by public auction in Zagreb on November 5th at a starting price of EUR 24.3 million.

The starting price has been determined on the basis of the court expert's appraisal. It should be noted that real estates cannot be sold at below 66 percent of the starting price at the first auction.

According to the web portal SEEBiz, the City Council of Dubrovnik adopted a decision on April 6th on a detailed plan for the reconstruction of this hotel and invited buyers to examine that plan.

Belvedere used to be a prestigious hotel in Dubrovnik, situated in an elite neighborhood called Ploce, and it is now among the few unrenovated hotels in that city.