Compensation Fund Representative Jovan Vlahovic is the new president of the Board of Directors of HTP “Ulcinjska rivijera”, “Vijesti” learns. He replaced Besmira Muratija, a representative of state capital.
In addition to Vlahović and Murati, the Board of Directors of the Ulcinj hotelier also includes: Ana Ćetković (Democrats) and Nina Abramović (Europe Now Movement) as representatives of state capital and Katarina Zunjic in front of the Pension Fund.
“Ulcinjska rivijera” is a joint-stock company with majority ownership by state funds and the state.
According to information from "Vijesti", the replacement of the head of the Board occurred due to a political agreement on the distribution of functions, according to which the President of the Board and the CEO of a company cannot be from the same party. Murati, like the CEO of "Ulcinjska Riviera", Armand Mila, member of the Force.
Mila was elected executive director of "Ulcinjska Riviera" at the beginning of the year, and Murati was elected president of the Board of Directors in July last year.
Bankruptcy in the “Ulcinj Riviera” was introduced on March 22, 2004 at the request of the local Electric Power Company due to a debt for electricity in the amount of 230.000 euros.
The debt of “Ulcinj Riviera” at that time was about 12 million euros. Immediately after the introduction of bankruptcy, the company's valuable assets were divided up. First, the Bus Station and the “Stari Grad” hotel group were sold, and then, under the guise of privatization, with strategic partners, the hotels Mediteran, Otrant, Galeb and Lido. The “Lido” hotel with bungalows alone was sold in 2006 for 10,8 million euros.
In 2017, Riviera signed a 30-year lease agreement with the Karisma consortium for the Olympic and Bellevue hotels on Velika Plaza, while the hotel company continued to operate the tourist resort on Ada and the Neptun campsite.
The campsite has been leased for several years, while the nudist resort has so far recorded impressive results, which are reflected in the growth in the number of overnight stays, and especially in the turnover achieved.
"Ulcinj Riviera" recently presented the Ada Bojana Development Strategy until 2030. The Strategy envisages the transformation of the existing nudist resort by increasing accommodation capacity to up to a thousand beds, building camping areas and mobile homes, and introducing new facilities - a spa center and indoor swimming pool, a football field, the first padel court for mini tennis in the municipality of Ulcinj... The key goal is for Ada to grow into a year-round resort that will attract tourists from developed European countries, as well as athletes for training thanks to additional sports infrastructure.
Mila recently told "Vijesti" that the management is aware of the fact that the resort with its existing capacity and outdated equipment cannot attract high-paying tourists from France, Germany, Italy, Spain, Scandinavian countries...
"Therefore, we need to ensure that it is renovated for next year in order to attract those markets. Of course, this will affect both the company's revenues and development, and it will be a healthy whole, as far as state-owned companies at the level of Montenegro are concerned," Mila emphasized..
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