The hotel was opened on May 12, 1923.

The hotel was constructed according to a project planned at the end of the 19th century. The building was built in the academic style and was famous for its beautiful architectural elements. The hotel even had its own generating station, a telephone, a freezing system for making ice, and even three elevators.

It was built as a first-class building which was fully equipped for accommodating, feeding and entertaining guests. From the railway station, the guests were given a lift with the hotel’s carriage. It was no wonder, therefore, that foreigners were so attracted by this hotel.

The Palace Hotel has records and documents from the most prominent names of European and world politics, culture, science, economics and sports.

The Palace Hotel stood out from other hotels because it hosted well-organized events such as banquets, celebrations, fashion shows, theatre performances and classical music concerts.