Budva – The stock holders of the major Montenegrin tourist enterprise “Budva Riviera” hava gave a green light for the entrance of the company into the partnership relation with the Austrian corporation “Soravia group”. The business includes the lease of the tourist lodgment “Slovenska plaza’ and the construction of a new luxurious hotel in Budva. The stock holders, 97% of them, on the Parliament of the stock holders have affirmatively declared that they agree with the foundation of the association with limited responsibility “Soravia Budva resort” and “Soravia hotel Montenegro”.
The contract about the joined investment in the reconstruction of the tourist lodgment “Slovenska plaza” and the construction of the totally new hotel with the Austrian company “Soravia group” is drafted, and after the parliament of the stock holders Government as a major owner should give its opinion.
Austrian company is interested that through joined investment with “Budva Riviera” makes a company “Soravia Budva resort” in which each of them would have a certain stock share. “Budva Riviera” which has a guaranteed profit, and a part of the made profit, would invest the facilities of “Slovenska plaza”, while the Austrians would invest in the reconstruction of the tourist lodgment at least 24 millions of euros. Austrian corporation will, as it was previously announced, invest more than 40 millions of euros in the construction of a new hotel close to the city pool, and it would be build based on the license of one of the most prestigious hotel chains, hotel “Hilton”, which would position Budva even stronger on the tourist map of Europe.
As it was recently clarified by the Minister of tourism and protection of environment Predrag Nenezic it is not a privatization of “Slovenska plaza”, but a contract limited to 21 years, after which the facilities of the tourist lodgment would return into the hands of “Budva Riviera” with the entire realized investment.
-The arrangement with the Austrian company does not mean privatization in any way, but a joined investment, where the foreign partner provides the investment, knowledge and selling channels. It is a company which has a very good reputation in Europe, which has been existing for decades and which has behind itself some very important deals realized. For example, both Hiltons in Vienna were built by this company in which they have some stocks. Through the arrangement of joined investment we would provide that level of quality of “Slovenska plaza” can go from present 2 to 3+ stars of the international standard – said Nenezic.
The Austrians are also obliged with the contract to take over all 255 employees of “Slovenska plaza”. If everything goes as it should in the next three years “Slovenska plaza” would be reconstructed in phases. Having in mind that we are talking about a big complex of about 2.500 beds, already in the beginning of the next season two wings of 600 beds would be renewed.