Czech tour operator Kovotour Plus eyes Montenegro’s Ulcinjska Rivijera – report

Kovotour Plus has urged Montenegro to give Ulcinjska Rivijera a chance for development, in cooperation with the Czech company and other partners, as well as through the future sale of shares and recapitalisation, daily Vijesti said.

The Czech company was surprised to learn that the government was preparing a 30-year concession of the hotels of Ulcinjska Rivijera, as this would mean the end of its existing cooperation with Kovotour Plus, the managing director of the company, Jiri Hajek said in the letter.

For Kovotour Plus, the concession of Ulcinjska Rivijera’s hotels to other company would mean several millions of euro less in annual turnover, Hajek said.

“In the event that our company incurs losses due to the termination of cooperation with Ulcinjska Rivijera, we will seek compensation through international arbitration,” Hajek added.

Ulcinjska Rivijera will hold a shareholders meeting on Thursday to discuss the potential privatisation model of the company.

Earlier this month, tourism minister Pavle Radulovic said that the Karisma Hotels Adriatic (KHA) consortium has sent a letter of interest in the concession of Ulcinjska Rivijera’s hotels.

The government plans to call a tender for the sale of Ulcinjska Rivijera in the next two months based on the interest expressed by the consortium which is expected to upgrade the Olympic and Bellevue hotels to five stars from four stars, the director of Ulcinjska Rivijera, Radomir Zec, said in April.