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Serbian InterContinental to reopen in 2006

InterContinental Hotels Group is returning to Belgrade in 2006 having signed a management agreement with International CG d.p. Beograd (ICG).  A 393-room, five-star hotel owned by ICG (formerly known as Generalexport) is now licensed under the InterContinental brand.  ICG has committed approximately 26 million USD to renovate the property to meet InterContinental standards.

ICG developed the property which the company plans to privatize by the end of 2006.  The hotel originally opened in 1979 as an InterContinental until the Balkan war in the 1990s. Capitalizing on Belgrade’s resurgence as the commercial hub of the Balkans and Serbia’s economic growth, the hotel aims to attract both business and leisure travelers.  It is located in the heart of the city’s business district, next to the Sava Center, the largest convention facility in Eastern Europe.  It will offer guests all the facilities and luxuries expected of an InterContinental hotel including a spa and wellness center, exceptional meeting space and innovative dining.

“The reopening of the InterContinental hotel in Belgrade is another important step in developing and expanding our InterContinental brand portfolio across Eastern Europe, an increasingly important business and leisure destination. We are delighted to continue our 27 year relationship with ICG and its commitment to a significant renovation program for hotel in Belgrade,” commented Jennifer Fox, Chief Operating Officer of InterContinental Hotels & Resorts for Europe.

There are currently six InterContinental hotels in Eastern Europe.