Armend Mila new director of "Ulcinj Riviera"

Board of Directors HTP "Ulcinjska rivijera" chose yesterday Armenda Milu (Forca) as the new executive director of this state-owned company, "Vijesti" has learned.

Mila will replace him in this position. Camila Hodžu (URA), who was elected as Acting Executive Director in early 2023.

Mila holds a degree in tourism management and a master's degree in business administration. He began his work engagement in the Montenegro Stars hotel group as an intern at the Splendid Ulcinj hotel. In 2018, he was appointed General Director of the Directorate for Monitoring Tourist Flows and Tourist Traffic at the Ministry of Sustainable Development and Tourism. In July 2022, he was appointed State Secretary at the Ministry of Economic Development and Tourism.

As part of the “Ulcinj Riviera”, there is a nudist camp on Ada and a car camp “Neptun” on Velika Plaza, which is under a property dispute. The company has 65 employees.

Despite the more than good results of the past season, Milo has a lot of work ahead of him and a not-so-great financial situation.

As "Vijesti" reported at the end of November, more than 2019 euros were withdrawn from the bank account of Ulcinjska Riviera based on a final court ruling from 420.000, as a claim by a minority shareholder of Atlas Fund, but the debt was still due to default interest, procedural costs...

Atlas Fund transferred the rights to Quantum Investments from Podgorica.

Atlas Fund did not agree to the long-term lease of part of the company's property on Velika Plaza in 2017, and all dissenting minority shareholders, who submitted a written notice of their intention to exercise their right to purchase shares at market value within the legal deadline, claimed the right to compensation for their claims.

The owners of 181,07 thousand shares, who did not agree with the decision, asked Ulcinjska Riviera to pay them 10,5 euros per share, in accordance with the Law on Business Companies, which was their market value on the day of the Shareholders' Meeting, when the decision on the lease was made.

In 2017, the Ulcinj Riviera leased the Olimpik and Belvi hotels with annexes on Velika Plaza to the Karisma company for 30 years.

In an earlier analysis of the situation in the Ulcinj hotel industry, conducted by the Ministry of Tourism, it was stated that one of the solutions to the problems facing the company is the sale of non-functional land at the Bus Station owned by "Ulcinj Riviera", allegedly worth around one million euros.

"Around 40 former employees, whose employment was terminated on the basis of severance pay, filed a lawsuit in 2021 and 2022 with the Basic Court in Ulcinj for the payment of part of the severance pay. Also, about 30 workers who are still employed sued HTP 'Ulcinjska riviera' for the payment of the difference in personal income for the period from 2009 to 2021. In the case of ending the dispute in favor of the worker, it is estimated that the amount of the payment a worker's dispute with all costs can reach the amount of over 250.000 euros," the analysis reads.

In 2018, Mila was appointed Director General of the Directorate for Monitoring Tourist Flows and Tourist Traffic at the Ministry of Sustainable Development and Tourism, and in July 2022, State Secretary at the Ministry of Economic Development and Tourism.