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– From the hotel, three and a half years ago, they only returned us the bare walls. They even took the elevators. We were not entitled to any compensation under the Law of Restitution. After three years, the only solution was to sell. If we do not sell it from the first time, the initial price falls by 20 percent – says Miodrag Erac, one of the owners.
By the way, the starting price of the hotel is around two and a half million euros, or 2,000 euros per square meter. Erac adds that it should have been sold last year, but that was prolonged by some disagreements between the heirs. And then the crown came and stopped everything for a while.
“We turned out to be the” lucky winners “of a failed privatization,” Erac said.
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The fight for the hotel lasted from 2002 to 2017, and the state appealed the decision on the return of the Restitution Agency, until the Administrative Court “cut”. Thus, the building was finally returned to the descendants of godparents Zivota Lazarevic and Trifun Jovanovic, who were taken away after World War II.
Regardless, somehow everything worked until 2008, when, after the failed privatization, the hotel began to deteriorate rapidly. It has been closed for years and the company “Splendid” is bankrupt. Despite protests from the heirs, the Privatization Agency once sold the hotel for 1.1 billion dinars, which the buyer had to pay in six installments.
As he did not fulfill his obligations, the contract was terminated. Then the customer left the hotel and took out literally everything that could be taken out, so the only tenants for years were just pigeons.
The owners got a ragged and damaged hotel
POSTCARD ATTRACTION
LIFE Lazarević and Trifun Jovanović, tailors and godparents, raised “Splendid” with their life savings on their plot in front of the Old Palace in 1923. The hotel was a real attraction and could often be seen on postcards from before the war.
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