Hotel Jelovica, located on the Jelovica mountain near Berane, has remained closed for six years since it was purchased in late 2019 by the company Osmanagić from Russian citizen Nikolai Vasilievich Kozlov, through his authorized representative in Montenegro, Zoran Turković.
Despite the opening of the new Berane–Kolašin road with the “Klisura” tunnel, which made the area more accessible and attractive, the hotel has not been renovated or put back into operation, and the reasons for this remain unclear.
The purchase included the hotel built in 1965 and 40,138 square meters of land. The sale ended a long period of uncertainty, as the hotel was previously owned by Nikolai Vasilievich Shehovtsov, a Russian citizen wanted internationally and missing since 2009.
Shehovtsov was linked to a major corruption scandal in Kazakhstan and headed a company connected to political figures there. He reportedly fled Kazakhstan in 2006 and later appeared in Berane, where he bought the hotel from local entrepreneur Radomir Raičević, who later sued to annul the sale, claiming he never received full payment.
The Jelovica mountain is becoming increasingly attractive due to its proximity to ski resorts in Kolašin, with plans for cable cars and gondolas connecting Jelovica to the larger ski complex on Bjelasica mountain. The recent spatial planning changes in Montenegro also open new opportunities for development in the area.
Property values around Jelovica have risen sharply since the new road was opened, significantly increasing the worth of the hotel and surrounding land. However, Osmanagić Co. has so far kept the hotel closed and has not invested in renovation or new construction, leaving many questions about the future of this strategically located property.
