Serbian Entrepreneur to Buy New Hotels on Adriatic?

The so-called Serbian ''sugar king'' has invested a massive 200 million euro into the hotel industry over the past decade.

As Poslovni Dnevnik writes on the 4th of June, 2018, over the past ten years alone, Miodrag Kostić, the President of MK Group, has invested a massive 200 million euro into the construction of hotels in Serbia and across the wider the region.

According to Serbia's ''sugar king'', the field of ​​hotel industry is the newest branch for Kostić's MK Group, which is growing rapidly, and the company's orientation is investing in ventures which includes revitalising old buildings and breathing life back into building land.

"Our investments may not have been seen at first glance, and maybe now people have started noticing with the opening of the Sheraton Hotel in Novi Sad," Kostić said, recalling that MK Group has opened two Kempinski hotels in the last two years alone, one in Croatia and the other in neighbouring Slovenia.

"Our orientation is the Adriatic coast, the areas of ​​Montenegro, Croatia, Slovenia, and city hotels. At present, spa tourism carries some of its own specifics and I wouldn't say that this is our priority," noted Kostić, adding that they are interested in hotels that already boast 150 to 200 rooms.

"Today, we're certainly the leader in the hotel industry, not only in Serbia but in the whole region, this is the newest branch within the MK Group and I think it will be one of the fastest growing businesses for us in the future," Kostić concluded.