Canadian investor officially opens Montenegro’s first Regent hotel on Aug 27

By bne IntelliNews August 26, 2014

Montenegro's first Regent hotel, operated by Regent Hotels and Resorts, will be officially opened on Wednesday, Aug 27, after already welcoming its first guests in the beginning of the current month, broadcaster RTCG informed.

The five-star hotel worth EUR 55mn is part of the luxury yacht homeport and marina village Porto Montenegro, owned by Canadian businessman Peter Munk. Porto Montenegro is located at the Adriatic town of Tivat in the picturesque Bay of Kotor. 

The investor in the hotel is PM Hotels – a subsidiary of Adriatic Marinas, which is Munk's local company that runs the Porto Montenegro marina project.

Regent Porto Montenegro is a condo hotel, stretching over 20,000 square metres. It includes 34 luxury apartments plus further 49, which have been offered for sale. It was built by Montenegrin firm YU Briv.

Porto Montenegro signed a partnership deal with Regent Hotels and Resorts for the construction of the luxury hotel and residences, including a yacht club and spa facilities, in early 2012. Back then, the nautical tourism complex said it is investing a combined EUR 100mn in the hotel construction and the expansion of its marina.

The Montenegrin government said in June that Adriatic Marinas invested an overall EUR 164mn in the Porto Montenegro project between June 2007 and September 2013, thus beating its privatisation obligations by 54%.

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