On Monday, the Commercial Court will announce the bankruptcy decision in Vektra Montenegro, the majority owner of the hotel company Vektra Boka, which bought 59 percent of the shares from state funds through a privatization contract.
After that, a creditors' committee should be formed within a certain period, which could be dominated by OTP Bank, which is demanding a loan of 21 million euros, and the Government or the Privatization Council should declare whether bankruptcy means the termination of the privatization contract for Vektra Boka.
When Vektra Montenegro took over HTP Boka at the end of December 2007, the chairman of the board of directors, Mihailo Banjević, told reporters that he would invest 360 million euros in the construction of four hotels, which according to the contract the company was obliged to complete in three years.
He promised that the investments will be six times higher than the contractual obligations and that a total of 2010 thousand square meters of hotel facilities will be built by 200.
At that time, it was said that the construction of the Boka Hotel in the city center on the site of the hotel of the same name, which was demolished after the earthquake, would begin on November 1, 2008, as well as the demolition, and then the construction of the Tamaris, Igalo and Plaža hotels.
It was announced that the Boka hotel will be architecturally similar to the old one and will have four stars, unlike the other three which will meet the standards of five stars.
Then it was heard that other numerous catering facilities such as the Borići, Žanjica motels, the former Topola and Rudnik hotels, restaurants and other facilities will also be renovated and adapted to the needs of elite tourism, which the Vektra Montenegro company intends to develop in Herceg Novi.
Banjević then pointed out that the company's intention is to "return quality to Herzegovinian tourism".
Four years later, the announced "quality" of Vektra Boka's offer is reflected in the half-demolished Tamaris and Igalo hotels, the ruined Topola and Rudnik hotels that are under litigation, and the devastated Borići motel, where sheep now live instead of guests.
Today, of the announced facilities, only the Levanger restaurant in Igalo, the former dairy restaurant in the city center and the Plaža hotel are operating. Although the Plaža hotel - once the elite and largest hotel in Herzegno, is open all year round, the visit is almost symbolic. Except for the summer month and a half, the average number of guests in the facility is less than ten guests per day.
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