Viennese hotel group Falkensteiner Michaeler Tourism Group (FMTG) is expanding in Serbia, APA Economic News Service reported.
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The company is managing Hotel Stara planina in the Balkan mountains, near the Serbian-Bulgarian border. The state invested EUR 30 million (USD 38.64 million) in the hotel. The management contract is valid for 15 years. FMTG is also going to open City Hotel in Belgrade in November, in which it has invested EUR 45 million jointly with other partners.
Source Balkans
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