Collecting rent from Statis is the only job

The state companies HTP "Miločer" and "Sveti Stefan hoteli", which manage the elite hotel complex "Sveti Stefan-Miločer", are a rarity on the Montenegrin business scene.

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Sveti Stefan leased until 2049, Photo: Vuk Lajovic
Sveti Stefan leased until 2049, Photo: Vuk Lajovic
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

What is characteristic of the two state campaigns HTP "Miločer" and "Sveti Stefan hoteli", which manage the elite hotel complex "Sveti Stefan Miločer", is that they represent a real rarity on the Montenegrin business scene, because all their work is collecting the rent that they charge from issuing elite summer resorts, which is why they have the smallest number of employees of all state-owned companies.

And while other companies are considering their business goals, the only concern of these two companies is that from the company "Adriatic propeties", a Greek businessman Petros Statis, they charge quarterly (every three months) rent and from that they pay wages to employees, but they also pay real estate tax to the Municipality of Budva for the property they are given to manage.

"Vijesti" asked these state-owned companies for information on how many employees they have and how much money is spent on their salaries.

The "Sveti Stefan hotel" states that they spend 79.755 euros for gross salaries on an annual basis. They have five employees, one of whom is the president of the five-member board of directors. From the annual amount for salaries, in addition to the employees, compensations to the members of the Board of Directors in the amount of 500 euros are also paid.

In HTP "Miločer" they state that they have two employees, one of whom is the executive director, and the other is the business secretary. 51.410 euros are paid annually for the gross salaries of the employees and the three-member board of directors.

The company "Adriatic properties" has concluded a contract with HTP "Miločer" on the multi-decade lease of the former hotel "Kraljičine plaže", and the land in the name of which it pays 87 thousand euros every three months. It is the only income of "HTP" Miločer". In addition to the contract with HTP "Miločer", back in 2007, a contract was concluded with the then owner of the city hotel Sveti Stefan and the villa "Miločer", the hotel group "Budvanska riviera", which also gave Statis' company a three-decade lease of these most important tourist facilities in Montenegro. the coast. In the meantime, the ownership was transferred to the company "Sveti Stefan hoteli" to which 380 euros are paid quarterly for rent.

"Sveti Stefan hotels" have five employees, one of whom is the president of the five-member Board of Directors. They spend 79.755 euros for the gross salaries of all on an annual basis

That they live exclusively from the rent was clear in August, when "Sveti Stefan hotel" said that their liquidity was called into question, because "Adritic properties" did not pay two quarterly installments.

Executive Director of HTP "Miločer" Igor Đurašević he sent at the end of last month to the former Minister of Economic Development and Tourism Goran Đurović letter, warning him that the government company is in an extremely critical financial situation, because the tenant "Adriatic properties" has not paid two annual rents.

The Government is requested to react urgently, because HTP "Miločer" cannot service basic obligations, from salaries to loan payments, which is why the property it has pledged is at risk.

"Adriatic properties is late in paying us the rent for the third quarter, and on October 2, the rent for the fourth quarter was also invoiced. With this, they knowingly endanger our functioning and we are unable to settle current obligations. We are currently late with the September installment to the Compensation Fund in the amount of 15 thousand euros, interest in the amount of 14.500 euros according to Universal Capital Bank, real estate tax for 2019, 2020, 2021, 2022 and 2023 in the amount of 592.139 euros. Also, we have no money for salaries and current liabilities. Please, if possible, put some kind of pressure on the tenant to continue paying. As I informed you earlier, we do not have any communication with them, they were instructed not to communicate with us, only through a lawyer while the arbitration proceedings are in progress," Đurašević emphasized in the letter.

51.410 euros are spent annually in HTP "Miločer" for the gross wages of two employees (executive director and business secretary) and the three-member board of directors

HTP "Miločer" pledged the stone villa 600 in Miločerski Park as collateral for the loan that this government company took in 2016 from Universal Capital Bank, one of whose owners is the company "Adriatic Properties".

The lease of the hotel "Sveti Stefan" and the villa "Miločer" is until 2049. The lease for the "Queen's Beach" was extended from 30 to 90 years and the construction of a condo hotel was made possible, i.e. half of the apartments will be for sale and half for the hotel business.

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