Company "Aman resorts" to invest 40m EUR in hotels "Sveti Stefan", "Miločer" and "Kraljičina plaža"
Singapore-based company "Aman resorts" has taken over the management of hotels "Sveti Stefan", "Miločer" and "Kraljičina plaža" at Montenegrin coast of the Adriatics.
The contract on long-term rental has been signed in Podgorica by the representatives of the Government, "Budvanska rivijera" and "Aman resorts". The company from Singapore promised to invest at least 40m EUR in the reconstruction of the hotel and to pay annual rental fee in amount of 1.96m EUR in the reconstruction period.
The rental fee in the first year of operation of the hotels will be 2.1m EUR. That amount will then grow bigger, because the contract implies that the Singapore company pays 10% of total income, under the condition that that amount can not be less than 2.1m EUR. It is expected that all three hotels will be put into operation in 2008.
"Sveti Stefan" and "Miločer" will be reconstructed, while the former royal residence - "Kraljičina plaža", will be torn down and a new hotel complex will be built on its site. Singapore-based company also promised to take over all 220 employees in these three hotels.
Most Important News
11.03.2024. | Healthcare
Are Marketing Experts Reading Our Minds? – eKapija Investigates: What Neuromarketing Is and How Much It Is Used in Serbia
11.03.2024. | Construction, Transport
Tender for Continuation of Construction of Patrijarha Pavla Blvd Stopped – Contractors Demanding Price Higher Than Estimated
11.03.2024. | Construction, Transport
11.03.2024. | Construction, IT, Telecommunications
Auction for 5G Network by End-Year, Minister Announces
11.03.2024. | Construction, IT, Telecommunications
28.03.2024. | Construction
Beginning of Construction of First “Green Dam” in Serbia Which Will Supply 500,000 People with Drinking Water
28.03.2024. | Construction
17.01.2024. | Industry, Healthcare
Ceremony of Opening of Centers of Excellence in Kragujevac Planned for Spring – Official Beginning of Operations in June
17.01.2024. | Industry, Healthcare
27.03.2024. | Industry, Transport, Finance
City to Waive Over 30 Zemun and Palilula Bus Lines to Private Transporters – Draft Public-Private Partnership for 10-Year Period Ready, Job Worth Half a Billion Euros
27.03.2024. | Industry, Transport, Finance