AUSTRIAN COMPANY PLANS TO EXPAND HOTEL MONUMENT?

A well-known Austrian group is planning to expand Hotel Monument on Mount Kozara, according to the eKapija portal.

"The plan is to add another floor to the existing Hotel Monument to expand rooms and apartments, as well as to build a spa center and conference halls," said a source close to the negotiations.

As explained, the potential investors are currently in discussions with the Ministry of Spatial Planning, Construction, and Ecology of the Republic of Srpska. However, the process is progressing slowly since the hotel is located within the Kozara National Park.

"A permit for the construction of an outdoor swimming pool is also pending," the source added.

The Austrian investor is reportedly prepared to invest around 100 million BAM in Hotel Monument.

"It is up to the investor to decide whether to renovate the existing hotel or build a new one while adhering to all procedures related to the protected area, namely the national park. The government will support the project by modernizing roads, increasing electricity capacity, and developing additional facilities in the national park to attract tourists to the hotel," said Denis Šulić, Minister of Trade and Tourism of the Republic of Srpska, last year.

It is worth noting that the company C&M Trade from Bijeljina purchased Hotel Monument during bankruptcy proceedings in August 2022. At the time, the company committed to maintaining the hotel’s operations, employing at least 15 workers, and investing a minimum of 1.5 million BAM. However, none of these commitments have been fulfilled.

The hotel, which was named Kozara before the war, has an accommodation capacity of 120 beds, as well as a sauna, gym, aperitif bar, and fireplace bar.