Podgorica – Austrian investment group Soravia will build in Budva exclusive hotel that will be under management of one of the most famous world tourist chains – Hilton, find out “Vijesti”.
Soravia made this arrangement a few days ago in Vienna with Budvanska rivijera on whose land the hotel will be built. Soravia owns Hilton in Vienna and it is most probable that to this chain will be given also hotel at Budva, although protocol on business cooperation signed at the end of week in Vienna leaves possibility of bringing of Meriot or other of same category.
Arrangement that on behalf of Budvanska rivijera in Vienna signed director Dusko Lalicevic beside building of exclusive hotel assume joint investment in Slovenska plaza and its bringing to level of at least four stars.
Project is 50 million EUR worth and as more informed state it could be more than 100 million if everything goes as planned.
“Vijesti” find out that engineers of Soravia group already arrived to Budva where prepare projections of future investments.
In the beginning of June heads of Soravia and business banks that should support this project will arrive to Montenegro, and arrival announced also heads of Hilton. Hilton is in the region present only in Dubrovnik.
By protocol of business cooperation is assumed creation of joint company of Soravia and Budvanska rivijera and that will be the first joint – venture arrangement in Montenegrin tourism and probably the most important project in our economy so far.
According to that arrangement, Budvanska rivijera on whose land the hotel will be built, next to Tourist settlement Slovenska plaza will get certain percentage of ownership.
With Slovenska plaza, that will remain in ownership of Budvanska rivijera, will manage joint board of directors, although Austrians will provide money for investments and hotel will be under their management and share of profit will be stated in a contract.
Austrian company Soravia was founded 120 years ago and deals with investments in real – estate and tourism. In more than ten countries of Europe they built hotels and business centers. At the moment in Vienna they build business center Town Town worth around 200 million EUR. Soravia group has around 2000 employees with annual turnover is over 600 million EUR.
Budvanska rivijera is in majority ownership of state with around 4000 shareholders. Privatization funds have some more than 20% of share. Company owns apart Slovenska plaza also Sveti Stefan, Milocer, hotels Aleksandar and Palas, Kastel Lastvu and villas Oliva. Sveti Stefan and Milocer will be given the most probably to long lasting lease to Aman resorts.
Shares of Budvanska rivijera are traded regularly at Montenegrin Stock exchange and current price is around 10 EUR per share what is half of nominal value.