In 1843, on Dubrovačka Street (today Kralj Petar Street ), Serbia's "knez" Mihailo Obrenović built a large edifice which became the first hotel in Belgrade: "Kod jelena" ('at the deer's'), in the neighbourhood of Kosančićev Venac. Many criticised the move at the time due to the cost and the size of the building, and it soon became the gathering point of the Principality's wealthiest citizens. Colloquially, the building was also referred to as the "staro zdanje", or the 'old edifice'. It remained a hotel until 1903 before being demolished in 1938. After the "staro zdanje", numerous hotels were built in the second half of the 19th century: "Nacional" and "Grand", also in Kosančićev Venac, "Srpski Kralj", "Srpska Kruna," "Grčka Kraljica" near Kalemegdan, "Balkan" and "Pariz" in Terazije, "London", etc.