Podgorica – Montenegrin Government has accorded yesterday with the suggested text of the contract of the long term lease of the hotels Sveti Stefan, Milocer, and Kraljicina plaza (Queen’s beach) with the Singapore company Aman resorts, which created the conditions for its signing
Minister of tourism, Predrag Nenezic, said that the contract of the lease of the Montenegrin hotels for the period of 30 years will go into effect from the 15th of January, when the leaser will take over all the facilities and all the employed.
According to his words, from the day of the take over until the beginning of the work of the hotel, totally 1, 95 millions of euros will be paid for the lease.
– From the beginning of the work the minimal lease will be 2, 1 million of euros, that is, 1, 6 millions for Sveti Stefan and Milocer and 500.000 euros for Kraljicina plaza (Queen’s beach). The lease will later be at least 10% of the total income, and as soon as the 10% of the total income is more than the arranged lease, that amount will increase – explained Nenezic.
After almost a year of negotiations, it is agreed that the company from Singapore invests at least 40 millions of euros in three jewels of Montenegrin tourism, which includes the construction of the new hotel Kraljicina plaza (Queen’s beach), which will first be plunged.
New Kraljicina plaza (Queen’s beach) with 5 stars will have 56 suites and 40 rooms. On the plateau in the rear of this hotel there will be a wellness complex Aman Spa with various contents.
– The obligation of the leaser is to open Sveti Stefan and Milocer in the season 2008, while the Kraljicina plaza (Queen’s beach) should be built again in accordance with the standards of 5 star hotels. It is a very concrete job, from which the leaser and Montenegro in next 30 years should accumulate 250 millions of euros of income, in nominal sum – said Nenezic.
When the incomes come to a real discount rate on the gross of the present value, Montenegro will achieve from 107 to 110 millions of euros, according to a conservative estimation, while approximately from 112 to 114 millions will have the partner.
– The contract has also the break up clauses, so it can be broken off if it is violated in any way, if the facilities are not finished in the expected deadlines, and if the money that is said that will be invested is not invested – pointed out Nenezic.
Aman resorts will take over 186 employees in Sveti Stefan and Milocer, who were on the payroll of Budva Riviera as the mother firm, as well as 35 employees in Kraljicina plaza (Queen’s beach).
Aman resorts owns 20 luxurious hotels and villas in Indonesia, Thailand, Cambodia, USA, Morocco, Philippines, India, Bhutan, Sri Lanka and France with the minimal price for the overnight stay of 800 euros. Sveti Stefan, Milocer and Kraljicina plaza will be brought up to that level.
On the yesterday’s session Government has adopted the Analysis of the achieved trade of goods of Montenegro with the abroad for the 2005, and for the first six months of this year, as well as the report about the realization of the Action plan and measurements for the spur of export.
Beside that, a Strategic export group was formed whose task is to follow the realization and to suggest new measures for the stirring of the Montenegrin export.
On a yesterday’s session the information about the status of the negotiations about the Agreement on free trade CEFTA 2006 was also accepted, with which the network of bilateral agreements about the free trade in the region will be replaced.