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%.

Photo source: www.regenthotels.com

Related Articles

UNCITRAL dismisses all CEAC's claims against Montenegro in KAP case

The United Nations Commission on International Trade Law (UNCITRAL) arbitration tribunal dismissed all claims of CEAC Holding, owned by Russian businessman Oleg Deripaska, against ... more

Montenegro’s government adopts urgent budget revision

Montenegro’s government has adopted an urgent budget revision to redirect funds for social payments due in November and December, a statement on the government’s website said on November 8. ... more

Russian nationalists planned to kill Montenegrin PM Djukanovic, prosector claims

Russian nationalists organised the alleged coup attempt on the eve of Montenegro’s October 16 general election and planned to assassinate Prime Minister Milo Djukanovic, Montenegro’s special ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss