Adriatic Properties places bid to purchase Durmitor hotel

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Adriatic Properties, Montenegrin company owned by Greek businessman Petros Stathis, alongside owner of the Lottery of Montenegro, Sava Grbović, company Nemesis from Podgorica and Niksic-based companies – Comp Comerc and Top Force System – is interested in the purchase of Durmitor hotel in Zabljak, writes Dnevne Novine. All bidders already submitted their offers for the hotel.

Once the pearl of Zabljak, the ruins of this magnificent hotel on the brim of the homonymous national park, is being sold at the price of 643.739 euros, as partial assets of the bankrupt ski center Durmitor. Bids for the purchase of the hotel were opened yesterday in the Commercial Court. This is the first time, after 16 failed ads for the sale of the hotel, that there are interested bidders.

Adriatic Properties offered 650.000 euros, which is about 6.000 euros over the asking price. This Budva-based company has many years in successful managing of the Aman resort in Sveti Stefan, the Queen’s Beach hotel in Milocer, and more recently, hotel Maestral in Przno. Their plan is to build a luxury 5-star hotel in Zabljak, which this beautiful area lacks.

Owner of the lottery business, Sava Grbović, is ready to pay the exact asking price for the hotel and its accompanying land, while the private security company from Niksic, Top Force System, submitted a bid worth 680.000 euros.

The highest bid, 701.000 euros, was offered by Comp Commerce, also from Niksic, owned by Ranko Jovović. Mr. Jovovic bought in April this year the Onogošt hotel for 1.2 million euros, and his company is already managing Vučje ski center. Slightly less money, 700.100 euros, was offered by Nemesis company from Podgorica, property of Dragan Perovic, who already owns hotel Hemera in Podgorica and chain of Astoria hotels and restaurants in Budva, Kotor and Podgorica.

The decision on the selection of the best bidder, in accordance with requirements of the ad and the submitted bids, will be made within seven days.

The first tender for the sale of Durmitor hotel was announced in mid-February 2013, after which 16 public auctions failed.

Source: Cafe Del Montenegro