Montenegro BusinessNewsMontenegro, investments in the field of tourism that left a mark in last year

Montenegro, investments in the field of tourism that left a mark in last year

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At the beginning of last year, based on the good results from tourism in 2021 and the successful winter season, government representatives optimistically announced that in 2022 we can expect one billion euros in tourism revenue. However, tourism officials did not share that optimism, considering the economic crisis and the war on European soil, due to which Montenegro lost two very important markets – Russian and Ukrainian.

And what do the official statistics show? As the Minister of Economic Development and Tourism Goran Đurović recently announced, Montenegro has come close to that figure of one billion euros. If the geopolitical circumstances normalize, he stated, this year we can expect to reach a profit of EUR 1.1 billion. Monstat data show that by the end of October, 1.08 million tourists were registered in collective accommodation, and that we are at about 90% compared to the record year 2019.

When it comes to investments, more than EUR 2 billion was invested only in priority projects that are being implemented on the coast, according to the Government’s data. Most of the investments were made in Tivat – EUR 1.2 billion, while EUR 894.1 million was invested in projects in Herceg Novi. It is precisely in these municipalities that the projects that have completely changed the tourist offer in Montenegro in recent years are implemented – Porto Montenegro, Luštica Bay and Portonovi. When the construction of the Kotor – Lovćen cable car is completed, we will not be immodest if we say that Boka Kotorska will be one of the most attractive destinations in the region and beyond. Projects worth 26 million EUR are being implemented in Ulcinj, and projects worth 11.7 million in Budva.

The economic citizenship program also focused on the north of Montenegro, so out of 16 projects included in the list of development projects in the field of tourism, as many as 10 are implemented in this region. It is about total planned investments in the amount of 444.32 million EUR, with a capacity of 2,764 high-category accommodation units. In the business plans, it was defined that within the framework of the implementation of these projects, the possibility of opening 1,847 new jobs will be created.

As we hear more and more often, the pandemic has significantly changed the habits of tourists, who increasingly seek comfort and visit hotels with 4 plus stars. Judging by our list of investments that have been announced or whose construction is underway, once they are realized, we will have no shortage of luxury facilities.

Mamula Island

The project that definitely attracted the most attention of our readers is the island-hotel Mamula Island. It is a five-star boutique hotel, which was created by the restoration of a fortress from the 19th century into a sophisticated hotel & spa with 32 rooms and suites, with a holistic spa center, beach, swimming pools, restaurants and bars. Within the hotel, there is a historical-memorial gallery that will preserve the memory of the entire history of this place, which also includes the dark chapter during the First and Second World Wars.

Although the official opening of the hotel was announced for the spring of 2023, during two months of last year, Mamula was visited by around 7,000 people through organized tours and excursions. As the general manager of the hotel, Henning A. Schaub, said at the time, after presenting the destination to the local community and services, they return to work on the construction itself. During the winter, as he stated, he will completely finish some other works in the fortress, and the opening of the facility in full capacity and with all services is planned for the spring.

Cable car Kotor – Lovćen

When it comes to projects in the field of tourism, we are not only talking about building a hotel. Thus, our list of investments included a project that will definitely add new value to the tourism offer of Montenegro. It is about the cable car from Kotor to Lovcen, the construction of which, after numerous announcements, finally started in July last year. The project is implemented by the consortium Leitner – Žičara Kotor 1350, which consists of the companies Leitiner and Novi Volvox.

As we could see in the video that was published at the end of December, the works on the construction of the cable car are progressing according to the planned dynamics. Prime Minister Dritan Abazović also toured the construction site, after which it was announced that, if everything is possible, we will be able to ride the new cable car already this summer. Namely, the opening is planned at the beginning of the summer season, and certainly by July 13, when Montenegro celebrates its Statehood Day.

Tourist resort Šljivovica Kolašin

The company Black Mountain Investments in Kolašin is planning the construction of the tourist settlement Šljivovica, which will consist of three eco-ethno villages. The area of the site where the construction of the tourist settlement is planned is 25,911 m2, while the total gross construction area of the settlement is 3,457.5 m2. Typical mountain houses will be built within the complex, as well as a central facility with a reception, kitchen and restaurant, as well as spaces for recreation and rest for the users of the tourist resort – gym, sauna, game room and billiards room.

Wolf Condominium complex Kolašin

In May of last year, we announced the construction of a residential and commercial building with a condo hotel, category four stars, in Kolašin. It is a project implemented by the company BB Invest Gorup. Construction of the complex began in the summer, and the hotel management contract was signed with Casa Hospitality Management.

The complex will cover 13,000 m2, the value of the investment is EUR 15 million, and the construction period is three years. It will be located just a few minutes from the city center and the ski slopes, and will include a high-class hotel with 60 hotel units, 64 apartments and tourist suites, as well as business premises that have been on sale since last month. As part of Wolf, customers and visitors will also have access to a spa and wellness center, a gym and a swimming pool, as well as a hotel bar and an exclusive restaurant with a unique gastronomic concept.

Tourist settlement in Prokletije

Another project on the list is the construction of a tourist resort in Prokletije. As announced by the Government, the settlement will be built as part of the Special Purpose Spatial Plan of Prokletije NP, on the territory of Gusinje municipality, for which urban planning and technical conditions have also been issued. As indicated, the location is located in the third protection zone of the Park, where, under the regime of sustainable use, settlements and accompanying infrastructure can be developed to the extent that the basic values of the area are not disturbed.

A sports-tourist complex with annexes along the Tara coast in Kolašin

Another investment was announced in Kolašin. Namely, the construction of a settlement with 14 sports and tourist annexes is planned along the banks of the Tara River. The construction of this complex is planned on a plot of land of 66,053, in the scope of DUP Kolašin Centar.

The gross construction area of the buildings is about 64,279 m2, and the expected number of floors of the annexes is S+P+2+Pk. There will be 818 accommodation units in the annexes. The companies Stablo, Beppler & Partners and Irlenia Investments are listed as investors of this project.

Tara Retreat Eco Hotel

Another tourist facility is emerging on the banks of the Tara River. It is about the eco hotel Tara Retreat in Morački Trebaljevo, the construction of which is planned by the company Platinum Distribution. The project envisages the construction of three buildings that will be connected by common contents and as such will form one whole.

As stated in the conceptual solution, buildings A and B are designed as one unit – with a common entrance and lobby, while building C has a separate entrance with a reception desk and unites six separate units – villas, connected to the reception desk. The complex will, among other things, have a restaurant block, and a wellness and spa block with an indoor pool.

Reconstruction of TN Slovenska plaža

At the beginning of last year, the hotel group Budvanska riviera announced a tender for the reconstruction of accommodation facilities within the Slovenka plaža tourist resort. More than 5 million EUR was invested in the reconstruction of villas Ruzmarin and Masline.

The works were completed at the beginning of June, when these villas were reopened to tourists. As the company announced at the time, the reconstruction raised 187 accommodation units from the 3-star category to the 4-star level according to modern hotel standards that will meet the expectations of even the most demanding guests.

4* hotel Kolašin

We return to the north, to be more precise, to Kolašin, where Kips gradnja plans to build a four-star hotel. The capacity of the hotel is 201 accommodation units, where 60% of the units (119 in total) are designed as junior suites and larger apartments. The remaining 40% of the units (83 in total) were designed as single rooms. In addition to the accommodation units, the facility will also have a reception with a hall and bar, a restaurant, maintenance rooms, as well as a 2,560 m2 garage with 84 parking spaces.

Hotel Marriott Kotor

The Marriot hotel chain is coming to Kotor, where the construction of a luxury 5* hotel, which will cover 7,500 m2, began in August last year. Completion of the works is expected in 2025. In addition to the construction of the hotel complex, the project also foresees the arrangement of the hotel’s public swimming pool and the construction of the promenade – lungo mare. As it was stated in the conceptual solution, the hotel will have a total of 120 accommodation units – rooms and suites, a congress hall, swimming pool, wellness and spa center. The investment is realized by the CG Hotel company.

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