After years of delays and legal disputes, the Sveti Stefan city-hotel may soon reopen its doors to visitors.
According to unofficial information from the “Dan” portal, the Government of Montenegro and the tenant, Adriatic Properties, are close to reaching an agreement that would allow the temporary reopening of the complex, while freezing the arbitration process in London for six months.
The agreement would reportedly include the opening of parts of the beaches to the public, including the Queen’s Beach, as well as the reopening of the Sveti Stefan city-hotel for visitors. The arbitration process would be postponed until the end of the summer tourist season.
The dispute between the state and Adriatic Properties has been ongoing since 2021 when the tenant closed the complex due to a breach of contract and inability to guarantee guest privacy. The London arbitration court has already made partial rulings in favor of Adriatic Properties, including an obligation for Montenegro to pay €620,000 in legal fees.
Although no official confirmation has been made, local authorities and citizens are hopeful that Sveti Stefan will be available to tourists this summer, which would significantly enhance Montenegro’s tourism offering.
If an agreement is reached, the city-hotel could reopen as early as next week, marking the return of this iconic symbol of Montenegrin tourism after four years, and reestablishing it as a top tourist destination.
