"Aman resorts" takes over hotels of "Budvanska rivijera"

This season, city hotel "Sveti Stefan" and hotels "Miločer" and "Kraljičina plaža", which operate as part of Hotel-Tourism company "Budvanska rivijera", will be rented to company "Aman Resorts" from Singapore.

Singapore-based company was the only company that applied for participation in the tender for rental of hotels and it offered annual fee of 1.6 million EUR for "Sveti Stefan" and "Miločer" and 150,000 EUR for "Kraljičina plaža".

The hotels were rented on period of 20 years, with the possibility of extension of that period by 10 years, "Budvanska rivijera" announced, with the note that over 20 million EUR will be invested in the adaptation of the City hotel "Sveti Stefan".

Executive Director of "Budvanska rivijera", Duško Lalićević, explained that the works include only reconstruction of interior of "Sveti Stefan", while the exterior will remain the same.

The Institute for Preservation of Cultural Monuments from Cetinje will supervise the works.