In the next three years, about €10m will be invested in Zabljak-based Durmitor hotel, which was sold to the internationally renowned Adriatic Properties company. Prime minister Dusko Markovic assures that everything will be done to create preconditions for beginning of construction works in the next few months. He believes that the hotel will represent a new, high-quality site on the tourist map of Montenegro.
During the prime minister question time, DPS MP Miodrag Bobo Radunovic asked Markovic whether there were preconditions to continue reconstruction of the Durmitor hotel and its putting into operation, which is one of the planned investments in Zabljak.
“Do you think that reconstruction of the hotel will be a driver of new investment in Zabljak, and generally in the north? Since the public call for purchase the hotel was completed last year and an investor selected, when can we expect the hotel to be put into operation?” Radunovic asked.
PM called in mind that based on the agreement signed on 2 September 2016, the hotel had been sold to the Adriatic Properties, the company with international reputation which operates in Montenegro.
“The existing hotel includes a basement (660m2), ground floor (707m2), the first and second floors (694m2 each) and attic 313m2. When it comes to investing in the Durmitor hotel, €10m investment has been planned within three years. After the project is executed, Zabljak will enrich its authentic tourism offer with a 4-5 star hotel with a capacity of about 150 beds,” Markovic said.
Hotel Durmitor belongs to the Special Purpose Spatial Plan for the Durmitor area, based on which relevant guidelines for architectural and urban competition were issued, as well as for construction of supporting facilities, dependencies and villa-bungalows, and refurbishing the entire hotel complex, which extends to tens of thousands of square meters of land.
“Due to the fact that the hotel was built in the first half of 20th century, that it represents a unique example of architecture of its time, and that its construction characteristics, historical, environmental and cultural values are undisputed, we think that specificity and architectural exclusivity of the hotel should be preserved. Bearing in mind that the Adriatic Properties company successfully manages the Aman Resort in Sveti Stefan and that it is a credible partner and an investor who has already implemented tourism and development projects in Montenegro, I believe that it will successfully manage the Durmitor hotel within its recognisable international brand,” said Markovic.
He called in mind that certain legal solutions aimed at boosting business development contributed to improving the overall investment climate.
“I will particularly emphasise the fact that last year’s amendments to the Law on Value Added Tax stipulated introducing a lower 7% tax rate for services in hotels with at least four stars in the northern region. In addition, the construction of 1.5 km of ski slopes was started in the Savin Kuk ski resort last year. The tender call for the project of another 21km of trails, all in accordance with the investment projects for this ski resort,” said Markovic.
The Special Purpose Spatial Plan for the Durmitor area is also a document which contains clear guidelines for significant investments in the development of Zabljak.
“Thus, the creation of the necessary infrastructure conditions in Zabljak, revitalisation of the Durmitor hotel and other facilities, construction of new hotel capacities and the continued government’s support through incentive economic policy measures will represent an additional development boost in that municipality,” said Markovic.
