Montenegro’s Budvanska Riviera to begin Mogren hotel overhaul in Oct - report

The hotel will be upgraded to a four-star level, aiming to offer diverse, year-round services and attract more mid-to-high paying guests, Budvanska Riviera was quoted as saying by daily Vijesti last week.

Budvanska Riviera opened hotel Mogren in August 2014.

Last month, Budvanska Rivijera said it recorded a net profit of 1.9 million euro ($2.1 million) in 2023, compared to a net profit of 602,563 euro in the previous year.

Montenegro’s government owns a 41.63% stake in Budvanska Riviera, while Serbian diversified conglomerate MK Group owns 26.1% and Montenegro’s pension and disability fund owns 12.8%.

$ = 0.9188 euro