Ines Mrdović, director of the non-governmental organization Action for Social Justice (ASP), has called for parliamentary intervention in the long-standing issue of Sveti Stefan, which has been closed for three years. She argues that the parliament, which approved the 42-year lease and oversees the contract, should now address the situation given its significant impact on the tourism industry.
“The parliament approved the 42-year lease and is responsible for overseeing this contract. Given that Sveti Stefan has been closed for three years, which is severely affecting the tourism sector, it is time for the parliament to step in,” Mrdović told Radio Crne Gore.
Mrdović believes that the conditions are ripe for terminating the lease agreement. She pointed out that the hotel complex has been closed and lease payments have not been made recently. She suggested that these factors give the government and the Budvanska Rivijera hotel group, the owner and lessor of the hotel, grounds to initiate lease termination proceedings.
According to Mrdović, the procedure involves the government and the hotel group issuing a formal warning to the lessee to rectify the situation within 30 days, or face lease termination.
She also emphasized that the public has a right to know the true identity of the lessee of the luxury resort. “We know that the contract is with a company whose true ownership is hidden in the British Virgin Islands,” Mrdović said.
It has been about 15 days since Adriatic Properties, the lessee of Sveti Stefan, was supposed to reopen the luxury resort and Villa Miločar and settle a €2 million lease debt.
The government had previously stated that if the resort was not reopened, it would initiate lease termination procedures, but it remains unclear if there have been any contacts or negotiations with the lessee.
Attempts to contact the relevant ministry, led by Minister Nik Gjeloshaj, did not yield results. Meanwhile, it is known that in August, an internal meeting discussed Sveti Stefan, but no concrete information was provided.
According to unofficial media sources, there is no consensus within the government regarding the future of the resort.
Under the lease agreement, the lessee was required to keep the hotels open for at least 11 months a year and invest €50 million in renovations. An amendment to the contract made nine years ago reduced the lease to €1.1 million by 2049, half a million less than initially agreed.
Additionally, there is a clause extending the lease for Kraljičina Plaža to 90 years, but due to disputes, the resort has been closed since 2021.
