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Russian investor to build 60 mln euro hotel in Montenegro's Budva - govt

Author Radomir Ralev
Russian investor to build 60 mln euro hotel in Montenegro's Budva - govt Source: Montenegrin Government

PODGORICA (Montenegro), February 2 (SeeNews) - Russian company Dobrov & Family Group plans to invest 60 million euro ($68 million) in the construction of a five-star hotel in Budva, the Montenegrin government said on Wednesday.

The construction of the hotel, to be located on the Crvena Glavica beach near the Sveti Stefan tourist village, will be completed by the end of 2024, the government said in a statement.

Dobrov & Family Group is considering partnering with one of the largest global hotel brands that will assume the management of the hotel, the government said after a meeting between deputy prime minister Dritan Abazovic and representatives of the Russian company.

Dobrov & Family Group is owned by Russian businessman Andrey Dobrov, whose net worth is estimated at $500 million by Forbes.

($ = 0.8829 euro)

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