Kosovo hotels sold at high price

Prishtinë, Mar 13, 2006 – The representatives of the business community in Kosovo consider that the hotels in Kosovo are sold with highest possible prices compared to the hotels in the region, Kosovar television TV21 reports. Yet, they see this competition as a challenge for serious business, stressing that businessmen should think about the future of the business they want to invest in.

The buyer of Grand Hotel paid € 10.7 million for the hotel and promised to invest € 20,2 million and hire 800 employees. Hotel Iliria was sold for € 1.6 million and € 3 million were promised to be invested.

Various business communities consider that these prices are very high, since it includes also an investment plan, which in later stages might cause a financial crisis to the investor.

Besim Beqaj from the Kosovo Chamber of Commerce considers that similar companies in the region were sold at much lower prices.

Most of investors are Kosovars, while the American Chamber of Commerce is interested in bringing American investors to Kosovo. The Chamber’s Executive Director Mimoza Kusari says that the hotels were sold at high prices. “It is very important that the businesses make detailed plans before they buy a company,” she said.