The Kotor company Sunny Palace recently completely became the property of one of the most attractive locations in Ulcinj and Montenegro, a land plot on which the Galeb Hotel was previously located. By acquiring land, the company begins construction of a high-class hotel complex on this important Ulcinj Place.
Sunny Palace, as confirmed by the portal Investor, had previously paid the full market value of the land to the previous owner, Rokšped, "which made it possible for it to fully take over the management of the site of the former hotel."
In addition to the purchase price paid to the previous owner, the company has committed the previous owner to the state to invest more than 15 million euros in the construction of the new hotel, they said.
As previously reported, the goal of the Sunny Palace company is to build a luxurious and one of the largest 5-star hotels on the Montenegrin coast "and thereby restore this place to its former glory, because the traditions and reputation of the former Galeb Hotel are the symbol of the city of Ulcinj, they deserved it."
The company has already attracted international consultants and architects to develop the concept and strategy of the future hotel as efficiently and efficiently as possible, which will operate within one of the well-known international hotel chains. Communication on this issue has already been established with a number of operators.
“We all know how much Budva has changed with the construction of the Splendid hotel, Tivat has moved forward with the construction of the Regent and Chedi hotels, and how much Herceg Novi has won with the advent of the One&Only hotel brand. With this project, we want to achieve the same success with Ulcinj, which, with all its opportunities and natural resources, fully deserves such a significant take-off with the new Galeb, which is the symbol and basis of the hotel industry in the city of Ulcinj. We are looking forward to working with the local government and other investors already present in Ulcinj to jointly promote this city as an attractive investment and tourism destination for year-round tourism.
“Kolašin can be a great example for us of how the synergy between the state, the municipality and investors has turned the city into a dynamic investment destination in a relatively short period of time,” said Radojka Vukovic, the company's chief executive.
Sunny Palace is convinced that the launch of such a large project will encourage the participation of many investors, and that there will be a domino effect of projects in the hotel industry, so that Ulcinj will experience rapid development dynamics.
The Kotor company is part of a group that is already building the largest five-star hotel in northern Montenegro, Montis Mountain Resort in Kolasin.
