The Board of Directors of the "Budvanska Riviera" Hotel Group made a decision to adapt four villas in the "Slovenska Plaža" Tourist Resort, which would make the largest tourist complex on this part of the Adriatic four stars by next summer.
This was announced to "Vijesta" by the largest Montenegrin tourist company, majority owned by the state.
At the same time, as it was said, the Board of Directors made a decision on the loan from which the million dollar investment will be financed, and it was sent to the Government for approval.
How much the adaptation will cost will be announced only when the Government's approval is obtained because, they say, that would disrupt the tender process.
He chairs the board of directors Mijomir Pejović, and the members are Zdenka Dacić, Predrag Mićunović, Jovan Purar i Vladimir Sekulić, while the executive director of HG "Budvanska Riviera" Jovan Gregovic.
"Slovenska Beach" tourist resort is a success story that is the most valuable part of the "Budvanska Riviera" Hotel Group and represents a Montenegrin brand recognized by guests of the region, Europe, and around the world. For four decades now, it has been a cult vacation spot for many generations, with a recognizable quality of service, positioning itself as a favorite place for tourists on the Adriatic coast. Based on the trust of guests who recognize 'Slovenska plaja' as a synonym for quality and a diverse tourist product, the Company's management is firmly determined to make 'Slovenska plaja' the most competitive settlement on the Adriatic by further improving its accommodation capacities. With the recent decision of the Board of Directors, the adaptation of its four villas: 'Lemon', 'Magnolia', 'Kana' and 'Myrta' is planned. The adaptation will raise the standard in 334 accommodation units from three to four stars. After the completion of the works, and with the already completed adaptation of the villas 'Maslina' and 'Ruzmarin' in 2022, 'Slovenska plaža' will next season contain only premium and rooms with four, which will improve the quality, offer and competitiveness of this tourist resort in the heart Budve", they stated in HG "Budvanska riviera"
As they point out, the adaptation of "Slovenska plaža" is a confirmation of the full commitment of the management to make maximum use of existing capacities and upgrade new ones, and to make the business of "Budvanska Riviera" stable and economically even stronger.
"Investment activities of the Board of Directors are aimed at realizing the goals of the Development Strategy, which follows the next five-year business cycle of the 'Budvan Riviera'. The adopted strategy and accompanying Action Plan strive to firmly position 'Budva Riviera' as an internationally recognized brand with a year-round offer of various hotel services, which gives its guests an authentic experience, with full respect for the concepts and postulates of sustainable tourism. The adaptation of the 'Slovenian Beach' will be financed mostly from loans, and partly from own funds. The decision on credit debt, which was unanimously adopted by the members of the Board of Directors, representatives of the State and minority shareholders, was submitted to the Government for the purpose of granting the necessary consent", the Hotel Group states.
They add that the million dollar profit of Budva Riviera in 2023, successful operations in the first nine months of 2024, regular servicing of all obligations towards the state, the Municipality of Budva and suppliers, as well as the excellent cooperation with the Ministry of Tourism and the Government so far, make the management of Budva Riviera convinced that he will receive the approval of the Government as soon as possible.
"In this way, the tender procedure will be carried out in a timely manner, the best bidder will be chosen and the adaptation project will be completed by the beginning of the summer tourist season in 2025," they state in 'Budvanska Riviera'.
The board of directors of HG "Budvanska riviera" previously made a decision to approve a loan for the reconstruction of the "Mogren" hotel near the Old Town, which needs to be approved by the government. The reconstruction of the "Mogren" hotel, as "Vijesti" was previously told, will be carried out in two phases, the first which foresees the reconstruction of the rooms and the construction of an indoor swimming pool, and the second phase which includes the extension of one floor with apartments and the construction of an outdoor swimming pool.
The hotel group "Budvanska rivijera" manages and operates five hotels, "Palas" in Petrovac (four stars and 171 accommodation units), Tourist resort "Slovenska plaža" in Budva (three plus and four stars with 1.016 accommodation units), hotel "Aleksandar ” in Budva (four stars, 187 accommodation units), “Castellastva Petrovac” hotel (four stars, 185 accommodation units) and “Mogren” hotel in Budva (three plus stars, 49 accommodation units). The city hotel "Sveti Stefan" was excluded from the Company five years ago, which was entrusted to the management of another government company "Sveti Stefan hoteli".
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