Argos rents Otrant hotel in Ulcinj

The Swiss bank NLB Interfinanz has rented Otrant hotel at the Big Beach (Velika Plaza) to the company Argos from Ulcinj. As Dan daily writes, the lease agreement is signed for the period of three years, and Argos has no obligation to take over 61 hotel workers.

One of the owners of Argos, Edmond Paljoka, confirmed that the company would be managing the most beautiful hotel in Ulcinj until March 2014.

- All details of the agreement and plans for the future will be revealed to the public in the nearest future - Paljoka told Dan.

Otrant became a property of NLB Interfinanz Bank in late November 2011 because of a EUR 10.6 million debt of its former owner - Russia's Barkli Montenegro.

The bank has so far advertised the sale of that hotel twice, but both attempts ended in a failure. Russians tried to reschedule the debt in September 2011 and failed, after which Sergey Marov, the hotel director, asked the Montenegrin government for help.