Hospitality Facilities

Hospitality Facilities

Photo by Unsplash / Paddy Pohlod

Hospitality Facilities
SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Real Estate
Business Model Description

Establish and operate hospitality facilities for accommodations using local value chains and local cultures and heritage in areas such as preselected cities, spa areas, and mountains. That entails capital, land, building permits, know-how, technology, workforce, and experienced staff. If it's built-in protected areas, it needs a permit for construction. Serbia has 28 spa regions and 19 particular climate areas suitable for investment.

Expected Impact

Promote economic growth and job creation while prioritizing diversity, local cultures and heritage, and equality.

Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
5% - 10% (in ROI)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Long Term (10+ years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
USD 100 million - USD 1 billion
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
> USD 10 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Decent Work and Economic Growth (SDG 8) Responsible Consumption and Production (SDG 12) Life on Land (SDG 15)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
No Poverty (SDG 1) Climate Action (SDG 13) Sustainable Cities and Communities (SDG 11)
Sector Sources
  • 1) Ministry of Environmental Protection, Waste management program in the Republic of Serbia for the period 2022-2031, 2022. 2) Statistical Office of the Republic of Serbia, Progress Report on the Implementation of Sustainable Development Goals by 2030 in the Republic of Serbia, 2022. 3) Ministry of Construction, Transport and Infrastructure, Strategy for Sustainable Urban Development of the Republic of Serbia until 2030, 2019. 4) Ministry of Construction, Transport and Infrastructure, Draft of the Spatial Plan of the Republic of Serbia from 2021 to 2035, 2021. 5) Ministry of Labour, Employment, Veteran and Social Affairs, Strategy of Prevention and Protection Against Discrimination for the period from 2022 to 2030, 2022. 6) Sustainable Development Report 2022, Sustainable development report 2022-Serbia, 2023. 7), Serbia invests 4 billion euros: The complete reconstruction of the railway is planned, 2019. 8), Renovation of rural infrastructure for 70 million euros, 2022. 9) FAO, National gender profile of agriculture and rural livelihoods – Serbia. Budapest, 2021. 10) Jelena Tasic, Future trends in rural tourism development in Serbia and in the World, 2018. 11) LinkedIn, Eco-Tourism, D, Sustainable tourism: Challenges and how to overcome them, 2019. 12) Territorial Capital of Rural Areas: An example of the analysis of the Potential for development of rural tourism in Sebia,n.d. 13) RAS, 2022. 14) eGateway, Rtanj Gets a Gondola, the Luxury Ramonda Hotel opens - numerous investments revive Tourism of Eastern Serbia, 2019. 15) Đorđević, M. Kuršumlijska Spa from Danas I officially owned by AD planinka Kursumlija, First guests in 2021, 2020. 16) Đorđević, M. Hotel Planinka is open in Kuršumlijska Banja, be the first guests, 2023. 17) Ministry of Mining and Energy, Energy development strategy until 2025 with projections until 2030, 2015. 18) Peterhof Consulting stakeholder consultations online on 17th of February, 2023. 19) McKinsey&Company, Coping with Success, 2017.
IOA Sources
  • 21) Legal information system of RS, Tourism Development Strategy of the Republic of Serbia for the period from 2016 to 2025: 98/2016-6. 22) Banja Rusanda: The old spa is becoming an attractive destination, 2013. 23) IIA navigator, Serbia | International Investment Agreements Navigator | UNCTAD Investment Policy Hub, n.d. 24) Law on foreign exchange operations -, n.d. 25) Legal information system of RS, Energy Development Strategy of the Republic of Serbia until 2025 Years with projections until 2030. Year : 101/2015-36. 26) Ministry of Youth and Sports of the Republic of Serbia, 2021. 27) Legal information system of RS, Sports Development Strategy in the Republic of Serbia for the period 2014-2018 Year : 1/2015-3. 28) The Law of Tourism. The Law of Tourism, 17/2019. 29) Planning and Construction Law. Law on Planning and Construction, 52/2021. 30) Environmental Protection Act, The Environmental Protection Act, 76 and 95/2018. 31) The Law of Culture, The Law of Culture, 47 and 78/2021. 32) Regulation on determining the criteria for the allocation of incentives for the purpose of attracting DI in sector of hotel accommodation services, 18/2022. 33) "Millennium resort" with the American Company Builds a Hotel Complex in Vranjska Banja, 2021. 34) Courtyard by Marriott Received first guests, 2015. 35) Belano, Hilton Hotel Belgrade – Luxury Accommodation in the City Center,2019. 36) Publications | Statistical Office of the Republic of Serbia, Publications: Statistical Office of the Republic of Serbia, n.d. 37) Gross Domestic Product, 2020, 2021. 38) Ministry of trade, tourism and telecommunication, official site,, n.d. 39) World Economic Forum, Insight Report, The Travel & Tourism Competitiveness Report 2019, 2019. 40) Law on investments - republic of Serbia. Law on Investments - Republic of Serbia, 95/2018. 41) Šljukić, S. and D. Janković, The village in the sociological mirror. Mediterranean Publishing. Novi Sad. p. 237-251, 2015. 42) Fiilip Đoković, Ivana Damnjanović, Biljana Tešić, Jelena Đorđević Boljanović, Gordana Dobrijević, Hotel construction and environmental protection, 2018.