28 Aug 14
Luxury Hotel Adds to Montenegrin Marina’s Lustre
The Canadian-owned yacht marina, Porto Montenegro, has received a further boost with the opening of a new luxury hotel – the Regent.
A new luxury five-star hotel, the Regent Porto Montenegro, opened on Wednesday in the coastal town of Tivat – part of a drive by Montenegro to boost its appeal to high-end tourists.
A glamorous party hosted by the owner of the marina, Canadian businessman Peter Munk, celebrated the opening of the country’s fifth five-star hotel.
Montenegrin Prime Minister Milo Djukanovic, who along with Munk cut the red tape, said that such complexes represented the future of the hotel industry in Montenegro.
“With the opening of the Regent Porto Montenegro, a new phase of development of the hotel industry in Montenegro is beginning, as we eliminate the shortage of high-quality hotel accommodation,” Djukanovic added.
The hotel is situated at the centre of the Porto Montenegro marina at a former naval base in Boka Bay. It is managed by the Taiwanese company Regent, which runs a chain of hotels around the world.
The impressive-looking building, designed in a Mediterranean style, has cost over 55 million euro.
Thirty-one of the 82 accommodation units will be sold as apartments, with penthouses going for 7 million euro.
The hotel opening is the latest stage in the ongoing expansion of Porto Montenegro. Once a Yugoslav Army naval base, it was bought by Munk in 2006. The marina is now in the process of almost doubling in size, from 250 to 490 berths.
Source: Balkan Insight (Montenegro)