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Serbian Delta Invests 30$ Million to Renew Hotel as Crowne Plaza

July 13 (Bloomberg) -- Delta Real Estate, a member of closely held Delta Holding, is launching a 25 million-euro ($30 million) renovation of its biggest hotel to reopen it under the Crown Plaza brand.

In cooperation with InterContinental Hotels Group Plc, the world’s largest provider of hotel rooms that owns the brand, Belgrade-based Delta will turn the 420-room Continental in the Serbian capital into a five-star hotel and reopen it in September 2013, said Delta director Zivorad Vasic.

“We made a management agreement with IHG, which will provide know-how and make sure that the new hotel operates under Crown Plaza standards,” Vasic said.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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