Arabs, Hilton, Sheraton and Soravia interested in Plaza hotel in Herceg Novi?

The company Vektra Boka has officially been discharged from bankruptcy. Liabilities have been partially met, and, according to the company’s representative Milic Popovic, a realistic debt repayment schedule has been set, instead of waiting for the repayment for five years, as previously planned.

– The liabilities towards the state amount to around EUR 2 million. Two installments have been paid to OTP Bank, while one remains to cover all liabilities of Vektra Montenegro and its subsidiaries, among which is Vektra Boka with debts of EUR 3.2 million, inherited from the period before the privatization. The total debts amount to around EUR 12.9 million – Popovic explained.

An ad for 90 seasonal jobs has already been placed, and the construction of hotels Tamaris and Igalo and the reconstruction of the Plaza hotel should start post-season.

– Among the potential strategic partners are companies from the UAE, but also European companies which have franchises of brands such as Hilton and Sheraton. We’re talking primarily about the Soravia Group and other groups interested in hotels Plaza, Igalo and Tamaris.

Considering that the planning documentation for the location of the Tamaris hotel has been prepared and that a good part of the documentation for the reconstruction of the Plaza hotel exists as well, the construction can be expected to start this autumn. There is a current problem of restitution of the land on the locations of the Igalo hotel, Boka Park, as well as in Zanjice, but the state is now expected to make the final decisions, as it stands to reason that strategic investors want to have clean property relations.

Popovic also believes that around thirty workers who were hired during the bankruptcy proceedings will remain in the company. On the other hand, the president of the union organization of Vektra Boka, Vojin Miljanic, points out that the workers, 28 of them, should have their statuses defined, all the more so considering that they carried the last year’s season, the most successful one in the past decade, with around 35,000 overnight stays, on their shoulders.

In line with the reorganization plan of Vektra Boka, the first ones to be paid are the workers, who are requiring three and a half minimum wages and 24 contributions in the total amount of EUR 515,000, which was supposed to be paid on the last day of 2016. The third rank of claims also relates to the employees, amounting to EUR 3.66 million.

Vektra Montenegro Podgorica

Starwood Hotels and Resorts Worldwide, Inc. Stamford

Soravia Group AG Wien

Hilton Worldwide

Vektra Montenegro

Vektra Boka

Vektra Boka bankruptcy

Milic Popovic

hotel Plaza

hotel Tamaris

hotel Igalo

OTP Bank Montenegro

seasonal jobs Montenegro

seasonal workers Montenegro

seasonal jobs Herceg Novi

seasonal workers Herceg Novi

reconstruction of hotel Plaza

construction of hotel Tamaris

construction of hotel Igalo

Hilton

Sheraton

Soravia Group

Boka Park

Vektra Boka union

Vojin Miljanic