The Most Luxurious Hotel in Sarajevo, a Lawyer and Companies Linked to Dodik and Vučić

A night in a luxury suite for 1,650 Bosnian marks, dinner from a kitchen run by a Michelin-starred chef, and then relaxation in Sarajevo’s first cigar club. This is the offer on the website of Apeiro, the most expensive luxury hotel in Bosnia and Herzegovina’s capital.

When a well-known Croatian travel blogger boasted last year that he had slept in Apeiro on a 40,000-euro bed, more than a million people watched his videos on social media.

The hotel acquired its luxury image when lawyer Đorđe Jugović became a part-owner through his co-owned company VB Solution.

Detektor has discovered that Jugović’s other company, Infinle, is connected, through ownership and legal representatives, to one of the Prointer companies in Belgrade. Earlier US sanctions directly linked Prointer in Republika Srpska to the Dodik family.

Jugović is the kum – a bond of ritual kinship similar to that of best man or godfather – of Staša Košarac, a prominent member of Milorad Dodik’s SNSD, two independent sources confirmed to Detektor.

Jugović’s business partners are owners of, or directors in, several companies in Belgrade and Sarajevo.

Some of these companies share legal representatives and addresses.

Hotel Apeiro in Sarajevo. Photo: Detektor

In the central part of Belgrade, in busy Kosovska Street, two companies, Infinle Consulting Beograd and the Infinle Consulting Belgrade Branch, have their registered address.

Both are owned by a company from Pale, Infinle Consulting, co-owned by Jugović.

The intercom shows only the company’s name, but the mailbox reveals that the apartment at this address belongs to the Kvrgićs.

According to official records, the apartment belongs to Miloš Kvrgić, son of Slobodan Kvrgić – the former owner of Prointer’s Belgrade companies. The mailbox lists one of the companies, Prointer Sistem.

This company’s registered address was in Kosovska Street until Kvrgić withdrew from the founding structure, and its official address moved to Belgrade’s industrial zone, at Dunavska bb.

This address also appeared in 2023 in an investigation by the Centre for Investigative Journalism of Serbia (CINS), when a call centre of the Serbian Progressive Party (SNS), founded by Aleksandar Vučić, was uncovered ahead of elections in Serbia.

Ivana Milosavljević, a CINS journalist who infiltrated this SNS pre-election operation as a worker, told Detektor that the call centre was housed on the premises of the Prointer company.

“It was never clearly communicated to me, ‘hey, come to Prointer’s premises’, but the call centre organiser sent me a location on the map indicating that the centre’s address was Dunavska bb, and following that location I arrived at Prointer’s premises. At the very entrance to that call centre there are in fact signs of Prointer and other connected companies,” said Milosavljević.

She said Prointer is a company that wins significant sums of money in tenders in Serbia. It was later also discovered that one of Prointer’s workers had been engaged to deliver packages for the SNS.

Infinite Connections

Besides the Kosovska address in central Belgrade, Infinle and Prointer are also connected by their legal representatives. In the Infinle companies in Serbia, the position of director is held by Jovanka Glavinić. She is also a director in the company Energosoft ITSS, which is owned by Prointer Sistem. These companies, too, are located at the Dunavska bb address.

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In Bosnia and Herzegovina, Jugović can regularly be seen in the company of Staša Košarac, the Minister of Foreign Trade and Economic Relations, as he accompanies Milorad Dodik. Jugović’s sister also works in the ministry, headed by Košarac.

The Infinle company, in which Jugović is a co-owner, owns business premises in central Sarajevo, where it has a luxuriously furnished law office. The premises, together with a garage, were bought for 1.1 million marks in 2020.

The law office’s website is dominated by photographs of the premises without any staff, while other sections mostly use generic photographs of random people, along with one portrait of Jugović. In that photograph, on his lapel he wears the logo of the Infinle companies – a stylised sideways figure eight, the symbol of infinity.

This motif and name run through most of his activities and business projects. The word apeiro, the name of the hotel in central Sarajevo, means “infinite” in Greek.

The stylised infinity symbol was also used by the Infinity group, which included the Banja Luka company, Prointer, linked to the Dodik family. After United States sanctions, the group was deleted from the court register.

While the office’s photo gallery shows none of the people employed there, but Detektor’s journalists have seen in documents the names of at least three people employed at Jugović’s office.

In Montenegro, Infinle Consulting brokered the sale of Fahrudin Radončić’s yacht to the Serbian company Prointer Sistem. In Belgrade, a branch of the Pale-based company is registered at the former address of Prointer Sistem.

Jugović declined to speak officially with Detektor’s journalists, but denied any connection to the companies sanctioned over ties to the Dodik family. In 2017, a company in his majority ownership sold business premises to the Independent System Operator (NOS), the state company that maintains the power grid in Bosnia and Herzegovina, as reported by Žurnal.

The Infinle Consulting company is registered at the same address in the centre of Pale as NOS.

There, Detektor’s journalists found the offices of the company’s director, Vera Đokić, but no one on the premises. An employee of the state company NOS told Detektor that he had never seen anyone appear at the Infinle Consulting office located one floor above his.

The registered office of Infinle Consulting in Pale. Photo: Detektor

Taking Over the Hotel

After a series of unanswered calls and messages to his mobile phone and the law office’s telephones, Detektor met Đorđe Jugović in front of the company’s headquarters in Pale.

Holding a plastic bag of cigars similar to those from the luxury cigar club in the hotel he co-owns – dressed in a white T-shirt with a print, a light grey blazer with a fine check pattern, brown trousers and white Italian-brand trainers – he reluctantly agreed to introduce himself, saying he would not speak officially. He confirmed that he had heard the context of the story from others contacted by Detektor earlier, but denied all of the journalists’ allegations about ties to the political leadership of Republika Srpska.

He talked to Detektor for at least 40 minutes, explaining why the hotel should not be their story, and what they should cover instead. He repeatedly referred to his position as a lawyer, explaining that because of it, it would be unprofessional to give any official comment.

The website of his law firm states that, “with the support of a long-time family friend, mentor and consultant, Svetislav Ceca Stanojević, one of the best-known judges in the field of criminal law in the former Yugoslavia, he founded the law office – Đorđe Jugović – in Sarajevo.”

Receiving the award on behalf of Svetislav Stanojević. Photo: Predsjednik RS

In 2023, on Stanojević’s behalf, Jugović received an award given by Milorad Dodik on Republika Srpska Day. The decoration was awarded to Stanojević posthumously.

Jugović founded Infinle Consulting in early 2016 in Pale with just one mark. Vera Đokić of Pale was appointed director at the time; she later also became one of the founders of Infinle Consulting, with a stake of ten per cent – ten pfennigs. In April 2023, the company’s capital was increased to 5,000 marks by transferring part of the profit. The remaining profit of 203,000 marks was transferred to Jugović.

Vera Đokić, who shared a photograph from Jugović’s law office on her social media, did not respond to Detektor’s requests for an interview.

The hotel in central Sarajevo is the more luxurious property owned by the company in which Jugović also holds a stake, He can be seen in photographs with a Cuban cigar in hand.

The building that today houses the hotel was previously managed by Subho Hodžić. The owner of the Hodžić butcher shop in Breza invested in the reconstruction of a villa in Sarajevo, converting it in 2017 into the four-star City One Diamond hotel.

City One Diamond is also the name of the company that Hodžić had opened in Sarajevo two years earlier, with capital of 2,000 marks.

Eight years later, in 2023, the company’s capital was increased by 7.2 million marks – the amount at which the hotel’s market value was assessed.

Subho Hodžić, who had retired in the meantime, transferred ownership of the company in August 2023 to his daughter, Amra Hodžić, and to the company VB Solution.

The owners of VB Solution at that time were Aleksandar Milašinović, a former director of VB Leasing, and Đorđe Jugović. They had taken over the former leasing company and renamed it VB Solution. Just before Jugović took over full ownership, VB Solution entered the founding structure of the City One Diamond company in August 2023.

Next to the City One Diamond hotel, Haris Ćoralić, an entrepreneur from the Krajina region, ran the Opal hotel. In May 2023, he sold it to the VB Solution company for 4.4 million marks. In 2025, it was pledged as mortgage collateral for a VB Solution loan worth 8.6 million marks.

According to the contract, available in the registry, Aleksandar Milašinović, then director and co-owner of VB Solution, was present at the signing of the contract.

Milašinović previously worked at the VB Leasing company. He did not agree to speak officially about his acquaintance with Jugović, nor about relations in the company he left.

Jugović paid Milašinović 2,000 marks to buy out his ownership stake of 130,000 marks.

Ćoralić also declined an official interview.

In December 2023, City One Diamond ceased to exist and was merged into the company that had until then been its co-owner – VB Solution.

The reason for merging the companies is explained in the auditor’s report on the merger. It states that the basic aim of the merger is the use of the fixed assets, workforce and other potentials of both companies to create the necessary (…) preconditions for a broader market presence and more efficient operations.

Based on the documents the journalists obtained, Detektor found no illegalities in the operations of the companies linked to Jugović. The ownership trail of Sarajevo’s most luxurious hotel from which they started out, however, revealed previously unknown companies connected to the Prointer companies, and ties to prominent politicians and the companies associated with them.

Luxury as the Essence of Life

Subho Hodžić did not want to comment for Detektor on the hotel’s current ownership structure. He explained that he had left the running of the hotel to his daughter Amra.

Directing the journalists to the hotel’s address for all information, he did not want to share any knowledge or information about the entry of Jugović’s company into the ownership structure of the company and of the hotel he had previously run.

Amra Hodzic had 1.7 million marks of capital as of early July 2026, while Jugović had more than 6.7 million marks in VB Solution.

She agreed to answer Detektor’s questions only in writing. Detektor contacted her in May. Instead of answering all the questions she stated that “the inquiry arrives at a moment when open ethnic incidents are taking place in Sarajevo, and political leaders are calling for economic separation along ethnic lines”.

At that time four ‘S’ letters had been written in red paint on two shops in central Sarajevo. Milorad Dodik said that the shops of companies from Serbia and Republika Srpska had been attacked.

“That is why I call on all our companies – close your shops,” he wrote.

Promotional video of the cigar club. Source: Instagram (@cswcnews)

Hodžić considers the ownership of the hotel a successful example of business partnership in Sarajevo’s old town core, adding that her family has been in the hotel business since 2016. But she did not want to share the reasons for the change in the ownership structure.

The hotel was subsequently renovated, named Apeiro and became one of the most luxurious hotels in Sarajevo, with a menu by a chef who has held a Michelin star, a cigar club, and 40,000-euro beds, advertised by Kristijan Iličić, one of the most popular travel bloggers in the region.

At a competition run by the hotel’s Mareva cigar club, the Apeiro was described not merely as a place where guests will sleep, but where they will also “excite all their senses”.

With jazz playing in the background in a seven-minute promotional video published on the Instagram profile of the Cigar Smoking World Championship, Marko Bilić, founder of the Mareva cigar club, described Apeiro as one of the best hotels in the region.

“Tonight we are enjoying really, really good things. That is the essence of life,” Bilić says in English.

In a conversation with Detektor, Bilić says the idea of the cigar club was born even before the hotel was renovated, when Jugović and Hodžić were at his club in Split, which he says has been declared one of the five best cigar clubs in the world.

“It is a cigar club, but also a business club with very strong networking all over the world. And Mr Đorđe and Amra really liked it, that whole concept. And they told me even then, when there was no hotel yet, when the hotel was not even under construction – that is, it was not yet being renovated – that they would like to have a Mareva club franchise in their hotel,” Bilić said.

“I welcomed that because, I mean, Mr Đorđe and Amra are people of the world, especially Mr Đorđe, who travels and spends time in America and so on,” he added.

He knows Jugović as a lawyer and as someone “connected with America”.

“That is what I know, and as for some other businesses, I know he is a business man who probably has many other projects, but we did not talk about that,” Bilić explained.

In Košarac’s Company

Jugović does not come from a poor family. His grandfather Risto was the director of Jahorina Insurance before he was murdered in 2002. For years, Staša Košarac and Milorad Dodik have been reminding the public that this murder remains unsolved, blaming members of the opposition.

Asked by Detektor about the acquaintance between Košarac and Jugović, Amra Hodžić stated that it rests solely on the fact that Košarac, as a member of the state parliament, spent years demanding that the murder of Risto Jugović be solved.

“No business or client relationship exists,” Hodžić stated in her reply.

Detektor can confirm from two independent sources that Košarac and Jugović are kumovi.

The two can be seen behind Dodik’s back in 2016, during a press conference held after Dodik was questioned at the Prosecutor’s Office of Bosnia and Herzegovina. He was under investigation for holding the referendum on January 9 as Republika Srpska Day.

The Prosecutor’s Office of BiH did not respond to Detektor’s inquiry as to whether Jugović formally acted as Dodik’s lawyer during the questioning.

During Dodik’s visit to the construction works on Jahorina in October 2017, Jugović can be seen alongside Košarac.

The following month, Jugović can be seen sitting in the front row together with Košarac, Dodik and Emir Kusturica at the opening of a cinema in Foča. In June 2019, Jugović can again be seen in Košarac’s company at the Cathedral Church in Mostar during the celebration of the patron saint’s day of the Holy Trinity. In October of the same year, at the same place, Jugović is again behind Košarac, who is sitting in the front row, where Dodik also is, during the opening of the Šantić Poetry Evenings.

At the SNSD’s New Year celebration in Doboj that year, Jugović also sat at the table with the party’s top leadership.

When the Apeiro hotel officially opened in 2024, various job advertisements appeared. Receptionists, chambermaids and hospitality workers were needed. The contact person for recruitment was Sabahudin Arapović, a councillor of the Social Democratic Party in the Stari Grad municipality.

With a long career in the hospitality industry, he is a manager of hospitality venues in the Sarajevo area, according to one of his biographies.

As a councillor in Stari Grad, Arapović said he would advocate for improving the hospitality sector in this municipality.

He did not want to talk to Detektor about the operations of the Apeiro hotel, saying that he had not been involved in its activities for a year and a half. He did not respond to a follow-up inquiry.

It was in this very hotel that SDP Stari Grad organised its Christmas reception in January 2026.

Irfan Čengić, the mayor of the Stari Grad municipality, was, besides that occasion, a guest at Apeiro at least three more times. He hosted an iftar with the Sarajevo Muftiate at the Bosniak Institute, at which Jugović was also a guest. His wife, Adna Čengić, shared several photographs from this hotel on her social media, with and without her husband.

Đorđe Jugović at an iftar in Sarajevo. Photo: Stari Grad Sarajevo Municipality, Facebook

Čengić did not agree to an interview, nor did he answer emailed questions.

Most of the people involved in the work or ownership of Jugović’s companies are unreachable or refuse to talk.

Dodik, Vučić and Prointer

Detektor did not receive comment from Ivana Rajić, director and founder of Prointer’s Belgrade companies, or from Jovanka Glavinić and Slobodan Kvrgić. They were not at the companies they manage, nor at the addresses in Belgrade at which they are registered. They did not respond to the messages left at those locations.

Pale-based Infinle Consulting is co-owner of the company Quint Technology, headquartered in Belgrade. Registered at this company’s official address, which Detektor’s journalists visited, is its director and co-owner, Mladen Miškulin. He did not respond to Detektor’s inquiry.

There was also no response to Detektor’s inquiry from Eurosalon Fabrika of Belgrade, a company owned by Prointer Sistem, which shares ownership of the company Eurosalon Fabrika Pale with Pale-based Infinle Consulting.

The registered office of the Belgrade companies in Dunavska bb. Photo: Detektor

Sign with company names at Prointer’s registered office in Belgrade — The registered office of the Belgrade companies in Dunavska bb. Photo: Detektor

The co-owner of the Infinle Consulting company in Podgorica is Montenegro’s Eurosalon Fabrika, which is owned by the Belgrade company Eurosalon Fabrika.

Among the previous owners of this company is Slaviša Kokeza, about whom Serbian media wrote years ago that he was a man Aleksandar Vučić trusts.

“Prointer is linked, above all, to Slaviša Kokeza, who was a former official of the Serbian Progressive Party and headed the Football Association of Serbia,” said Ivana Milosavljević of CINS, adding that he disappeared from public view in 2021 after the media began linking him to cigarette smuggling.

She said that this did not affect the operations of Prointer, which continued to do very good business and to cooperate with the SNS.

One of the previous owners of Eurosalon Fabrika is a company that is today called Proret.

This company was previously called Prointer IT Solutions and Services. Belgrade’s Prointer Sistem sued it for trademark infringement. That happened in July 2023. A year later, the Banja Luka company of the similar name name lost important international licences following reporting on its links to the Dodik family.

The previous US administration placed a series of individuals and companies on its sanctions list, with the explanation that they served the personal enrichment of members of the Dodik family, among whom they particularly singled out Milorad Dodik’s son, Igor. The sanctions linked the companies from the Infinity group, including Prointer, to the Dodik family. Milorad Dodik himself denied that his son owned Prointer, but confirmed their business connection.

The group denied any connection with the Dodik family, but a large number of its companies in Republika Srpska had to shut down because their bank accounts were closed. The Trump administration lifted the previous sanctions in October 2025.

Prointer Sistem of Belgrade denied any connection with Prointer ITSS in Banja Luka. Data from the Banja Luka court register, to which Detektor had access, show that it was precisely the Belgrade company Prointer IT Solutions and Services that was one of the founders of the Republika Srpska company, from which it later withdrew.

Belgrade’s Prointer Sistem is the owner of the company Energosoft ITSS.

A company with a similar name in Bosnia and Herzegovina was registered by Amra Hodžić, one of the co-owners of the company that manages the Apeiro hotel.

She is also the owner of the company Quint Technology, headquartered in Sarajevo. Besides these two, Hodžić also owns the company VB Soft.

Sign listing company names at the entrance to the Maglajska 4 building — The registered office of the Sarajevo companies at Maglajska 4. Photo: Detektor

The building at Maglajska 4 in Sarajevo — The registered office of the Sarajevo companies at Maglajska 4. Photo: Detektor

Shared Addresses and People

In Sarajevo, Energosoft, Quint Technology and VB Soft share an entrance with lawyer Jugović’s office at Maglajska 4, which is owned by the Pale-based company Infinle Consulting. Land registry records show that Eurosalon of Belgrade, which is owned by the Prointer Sistem company, also bought offices in this building. They bought part of the premises for almost 400,000 marks from Infinle, with whom they had previously been co-owners of these offices.

The companies VB Soft and Quint Technology are successors of two companies that already existed, while Hodžić founded Energosoft in 2021. Thus, VB Soft previously existed as Volksbank Leasing’s company in Bosnia and Herzegovina, while Quint previously existed as a Polish-owned company.

Dragana Đokić, sister of Vera Đokić, one of the founders of Infinle Consulting, was appointed the first director of the Quint Technology company.

In a short telephone conversation with Detektor, Dragana Đokić said that it was true she had been a director at this company, but she did not want to give any additional information. She said that before the hotel opened she had also worked at the VB Solution company, but that she did not want to talk about that either.

“I have no reason to talk to you about that. (…) Everything you found on the internet in terms of work and employment, it stands, nothing is hidden,” Đokić said.

The company’s online presentation gives almost no information, apart from the addresses of the companies in Belgrade and Sarajevo, contact details, and a one-sentence description saying that the company provides consulting services with “international experience, knowledge and connections”.

The website of the Serbian branch reveals somewhat more information, but it is based entirely on a copied letter to potential partners and contact details, without the detailed information usual on similar websites.

The long text that is the sole content of Infinle’s website in Serbia praises its work “particularly in the areas of implementing infrastructure projects, and the financial and electricity markets”, as well as in real estate. It describes the company as having reached a significant position in a short time, “both independently and through the work of other connected legal entities and natural persons”.

According to this description, Infinle bases a large part of its business on leasing out real estate in some of the most attractive locations in Sarajevo and East Sarajevo.

Among its consulting services, it highlights representing the branch of the Turkish company Ronesans in Serbia in major infrastructure projects, such as the construction of the Prenj tunnel, the Rača–Bijeljina–Brčko–Vukosavlje motorway, and gas pipelines and hydro systems in Republika Srpska.

The website states that Infinle became the owner of two electricity production companies. Court documents in Travnik show that the brothers Robert and Dejan Brajković, from a family known for building entire neighbourhoods in Sarajevo, founded the companies ECO-VOLT and ECO-WAT in August 2020. They handed both companies over to Pale-based Infinle Consulting.

But only a few months later, the Brajkovićs regained ownership of the two energy companies. The claim that Infinle still owns these companies was on its website in mid-2026.

Vladan Andrić, director of both companies, explains for Detektor that they needed the cooperation with Infinle Consulting to register a company in Republika Srpska.

“We were supposed to do a project in Republika Srpska, (…), so they helped us with legal matters,” says Andrić, adding that the whole job never materialised in the end, so the companies were transferred to the Federation.

Andrić could not remember exactly why it had been necessary to transfer ownership to the company from Pale.

“I don’t remember why it was done that way. I think it was a matter of legal complications,” says the director of ECO-VOLT and ECO-WAT.

Yachts and Data Centres

Infinle also took part in the resale of Fahrudin Radončić’s yacht to Prointer Sistem, headquartered in Serbia, as revealed by the Sarajevo-based Centre for Investigative Journalism (CIN).

CIN revealed that Radončić sold the 17.5-metre-long ‘Princess 62’ to Infinle Consulting for 2.41 million marks in September 2020, and that a month later Infinle sold it to Prointer Sistem for 2.45 million marks.

Vera Đokić told CIN at the time that Infinle had learned of Prointer’s interest in a yacht when they already knew that there was a yacht on the market at a slightly more favourable price. Fahrudin Radončić, a Bosnian politician and businessman, told CIN that he had not sold the yacht to Prointer but to Infinle.

Serbia’s Prointer sued Infinle after the sale of the yacht, but the court dispute was resolved by the withdrawal of the lawsuit, court documents to which Detektor had access show.

According to 2026 data from Montenegro’s yacht register, Prointer owns the yacht ‘Miloš IV’, while Energosoft ITSS, a company in its ownership, owns the yacht ‘Miloš III’. Miloš Kvrgić, son of Slobodan Kvrgić, has spent time on this yacht, Detektor established on the basis of photographs published on Instagram.

Kvrgić did not answer Detektor’s questions about the yacht, nor about his connection to the Infinle Consulting company located at the address of his residence in Belgrade.

Jugović has so far represented, among others, defendants accused of organised crime in the so-called Sky ECC cases, as well as a doctor charged over the death of the girl Džena Gadžun.

He is also the legal representative of the company Macline, one of Apple’s resellers in Bosnia and Herzegovina, in the Zadruga case. According to reporting by Oslobođenje, Macline was acquitted in a first-instance verdict in January 2026.

The Macline company is currently owned by the Serbian company Tehnomanija, which is owned by Prointer Sistem. Tehnomanija, too, is headquartered at the address of Prointer’s companies in Dunavska Street.

Tehnomanija Sarajevo is located in the same building as Jugović’s office – Maglajska 4.

While the Energosoft company from Serbia was winning tenders, the company of the same name in Bosnia and Herzegovina has not taken part in a single public project. When Elektroprivreda Srbije, Serbia’s state power utility, deposited its source codes in the state data centre at the end of 2024, Energosoft was one of the two private companies that were signatories to this contract.

Republika Srpska recently launched procedures to assess the construction of a data centre modelled on that one.

The job went to a consortium that includes the company managing the Serbian data centre. These companies will carry out a feasibility assessment of the project, which could be worth several tens of millions of marks.