Location: Three Minutes Walk from the Beach, 11 miles from Budva, Petrovac, Montenegro
Guide Price: €19m
No. of Keys: 114 Rooms & Suites
The Opportunity: To acquire this top five-star hotel. Opened in 2019, just before Covid lockdown, so pristine clean and great decor. Was granted management and branding to a major global group, but available now flag and management free. Before it closed it won “Most Beautiful Hotel in Montenegro award. The hotel has a 80 metre beach-front Club, based on a five-year, renewable basis and one could open a restaurant/bar on the beach, either exclusive to hotel guests, or open to members.
The hotel comprises two-wings – 10 and 11 storeys each. The 114 rooms has a 293 bed capacity, with senior and junior suites; There are AC/DC motor driven shutters at windows to blind the rooms, except in the standard rooms. The hotel has a Terrace 350 sqm and Sky Bar on the 11th Floor. The Restaurant is 330 sqm. The meeting rooms is 122 sqm and can seat xx delegates.
There is an indoor and outdoor pool, measuring 281 sqm, a Kid’s Club playroom of 50 sqm. The SPA center comprises Finish sauna, Aromatic sauna, Bio sauna, Turkish Bath, Salt room, Massage room, showers, gym; Solariums and size is 570 sqm, plus Hairdresser salon.
The hotel has a four-level underground parking garage with 61 spaces. The total area is 11,006 sqm and land area of 1,706 sqm.
Main Picture: Most of this hotel’s rooms and suite have great views
Current Owner: Private company….owner wishes to retire.
Flag and Management: Free to new owner.
Financials: Business plan available after LOI/EOI
Agent: Local agent in partnership with THPT
Guide Price: €19m…2019 Valuation was 30% higher
Date Posted: June 2021
THPT Comment: This is an opportunity to acquire a brand new five-star beachfront hotel, in a great part of Montenegro.
Contact us for further information
This is a new feature on the THPT site…. Hotel & Serviced Apartment owners can be naturally reticent in publicising their property is for sale…for confidentiality reasons, for staff and current client reasons, so the properties featured in this section will either be “generic” or “name specific”
Each fortnight we mail the opportunities posted that week, but check-out the tab “Hotels Available” and call us for details of “Under the Table” – deals not posted on the site at all
The Hotel Property Team (THPT) is a small group of highly experienced business professionals. Between us, we provide a range of skills and experience which is directly relevant to those involved in the hotel property market.
MISREPRESENTATION ACT 1967. This information is provided as a general guide and is not intended to be constructed as a statement of fact upon which interested parties can rely. All interested parties should make their enquiries by inspection or otherwise. Neither The Hotel Property Team (trading name of Impetus Marketing 2006 Ltd) nor any person in our employment has the authority to make, give or imply any representation or warranty whatsoever relating to the premises referred to in these particulars. These details do not constitute any offer, contract or any part thereof and all negotiations relating to the premises should be conducted through THPT.