It was once one of Croatia’s most luxurious hotels, and now Hotel Belvedere in Dubrovnik is up for sale. The completely devastated hotel, which is now bankrupt, will be sold at public tender with a starting price of 126.9 million kuna (16 million euros), reports daily Jutarnji list.
The hotel, which has a prime location in what is the tourist capital of the country, will be sold at public tender on 22 March at the offices of Zagreb public notary Jozica Matko-Ruzdjak. Experts say that the devastation of the hotel is so bad that it would be impossible to simply renovate. They believe that knocking it down and building from scratch is the only solution.
Participants in the tender need to pay a 10% deposit of the starting price 24 hours before the start of the tender. The hotel can not be sold under two-thirds of the advertised starting price.