The government-owned Hotel Tourist Company "Miločer", which owns the former "Kraljičina plaza" hotel and villas in the Miločer park complex, has been given until February 28th to move out of its offices because it has not paid rent for a year and a half.
This was warned by the director of HTP "Miločer" Igor Đurašević to the Minister of Tourism Simonida Kordić in an urgent letter, which "Vijesti" had access to, demanding that the Government get involved in solving the problem.
The company found itself in an alarming situation because, on the other hand, the company "Adriatic Properties" has not paid them a cent for two years for the lease of the former hotel "Kraljičina plaza", on whose site and part of Miločerski Park a new hotel with annexes-apartments for the market is being built.
"I inform you that we have to vacate the offices by the end of February. As you are aware, HTP 'Miločer has been in lockdown for over a year and the obligations towards the lessor of the business offices have not been settled. We have received a notice that we have to vacate the offices due to unpaid rent for more than 12 months. Therefore, I ask you to find a solution to our problem as soon as possible. Since all our property is leased to "Adriatic Properties", we have nowhere to go. Tables, chairs, office supplies, archives and small inventory, we have nowhere to go with them. I ask you to receive us as soon as possible so that we can find an interim solution," Đurašević emphasized in his letter to Minister Kordić.
Previously, the owner of the offices in the former business building across from the Maestral hotel sent a letter to Đurašević stating that they were forced to take such a move because HTP "Miločer" had not paid them a cent for the office lease since September 2023, and the debt now totals 4.532 euros.
Although, as they stated in the letter, they had excellent cooperation, and that HTP "Miločer" has been in those offices since 2007, due to almost a year and a half of non-payment of obligations, they must cancel the use of their office space.
Đurašević previously told "Vijesti" that the situation in that company is more than serious, because the company, which is 100% owned by the Government, is under blockade, employees have not received their salaries for more than a year, there are no telephones or internet in the offices, they are not paying their credit obligations to Univerzal Bank, and they have been blocked by the Compensation Fund. Debts are increasing day by day.
The company "Adriatic properties" has concluded a contract with HTP "Miločer" on the multi-decade lease of the former hotel "Kraljičina plaža" and land, in whose name it pays 87 thousand euros per quarter. It is the only income of "HTP" Miločer", which has two employees, a director and a business secretary, as well as a three-member board of directors.
Two weeks ago, the most successful tennis player in the history of white sports, Novak Djokovic, said that he was trying to help remove the padlock from the Sveti Stefan city-hotel, which has been closed since 2021. After talking with Prime Minister Milojko Spajić, Djokovic told "Vijesti" that this was the main reason he was in Montenegro, emphasizing that he would use his name and influence to solve the problem.
The company “Adriatic properties” of Greek businessman Petros Stathis, which is the tenant of Sveti Stefan, has been keeping the closed city-hotel Sveti Stefan and the villa “Miločer” since 2021, while it has suspended the construction of the new hotel “Kraljičina plaža” since the arbitration proceedings began. Without an agreement on the functioning of the Queen's Beach and the path between it and the spa center in Miločer Park, the hotel operator “Aman” does not want to open the once fashionable city-hotel Sveti Stefan, because they allegedly cannot guarantee guests safety and privacy.
It was the use of Queen's Beach, which had been closed to the public for decades and reserved exclusively for hotel guests and the political elite, that led to the closure of Svec. The city-hotel was closed in 2021 after locals broke the fence on Queen's Beach, and the Public Company for Coastal Zone Management ordered its removal, freeing up the paths in Miločer Park for use.
This led to the initiation of a dispute before the International Court of Arbitration in London. In November 2022, “Sveti Stefan hotels”, HTP “Miločer” and the then Ministry of Economic Development first filed a lawsuit, accusing the tenants “Adriatic properties” DOO Budva and “Aidway investments limited” from the British Virgin Islands, as well as “Aman resort”, of breach of contract. The companies “Adriatic properties” and “Aidway investments limited” immediately responded with a lawsuit, demanding compensation of one hundred million euros.
The main hearing is scheduled for May.
In the meantime, the Commercial Court recognized the decision of the Court of Arbitration in London, and ordered the company "Sveti Stefan Hotels" and the Government to pay 620.000 euros to the company "Adriatic Properties" for the costs of the dispute before the international tribunal.
The arbitration proceedings are being conducted in connection with the lease agreement for the hotels “Sveti Stefan” and “Miločer” and the lease agreement for the hotel “Kraljičina plaža”, concluded on 31 January 2007. On 15 January 2007, the Government gave the green light to conclude a 30-year lease agreement for the hotel “Sveti Stefan”, the villa “Miločer” and the hotel “Kraljičina plaža”. According to this agreement, the guaranteed annual total rent is 1,6 million euros, but it is also envisaged that it can be revised every three years. The lessee has committed to keeping the hotels open for a minimum of 11 months, and to investing 50 million euros in the reconstruction of “Sveti Stefan”.
The 2015 annex extended the lease for “Sveti Stefan” for 12 years, until 2049, and reduced the rent from 1,6 to 1,1 million euros. The annex for “Kraljičina plaža” extended the lease from 30 to 90 years and enabled the construction of a condo hotel, with half of the apartments for sale and half for hotel use. The contracts also gave the beaches a multi-decade lease.
The resulting dispute has caused a new problem - for almost two years, Statis' company has refused to pay rent to the government company HTP "Miločer" for the Miločer Park complex, where the old "Kraljičina plaza" hotel was located, and where they have begun construction of a new one. The quarterly installment amounts to 87 thousand euros, until the arbitration is completed.
The quarterly rent of 380 thousand euros is not being paid to the company "Sveti Stefan Hotels", the owner of the city-hotel "Sveti Stefan" and the villa "Miločer".
Both companies are therefore in an extremely difficult financial situation.
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