Port of Bar to sell Sidro Hotel for EUR 1.77 million

Port of Bar, majority-owned by the state of Montenegro, has announced the sale of Sidro Hotel.

Interested parties may submit their bids at the company's headquarters no later than September 16, Podgorica-based daily Vijesti writes.

The tendering commission of the Bar-based company reserves the right to change the deadline, if need be, as well as to suspend the tendering process at any point without any obligation towards the bidders.

Tender conditions state that the bidder will have to pay the deposit of EUR 50,000 and submit either the payment certificate or a bank guarantee in favour of Port of Bar.

The bids are valid only if the bidder complies with one of the two mandatory conditions, Mina news agency writes.

The first conditions states that the bidder has been operating for at least three years prior to the tendering announcement, that they have operated with profit and had the annual revenue of minimum EUR 2 million.

The second condition states that the bidder had EUR 2 million revenue in the previous business year and that they had a signed management contract with the company that fulfilled the first requirement.

The potential investor would have to keep 35 employees in the hotel and to comply with the collective agreement for subsidiary companies within the Port of Bar.

Luka Bar a.d. Crna Gora

HOTEL SIDRO

Sidro Hotel for sale

hotels

tendering