The future hotel has chances to operate under Waldorf Astoria, a luxury Hilton Worldwide brand, Dnevne Novine (www.dnevne.me) newspaper reported.
Ulcinj-based Star of Montenegro plans to secure a building permit for the hotel in December and launch construction in the first quarter of 2013.
Star of Montenegro is a subsidiary of Montenegrin-German company Montenegro 2000, Dnevne Novine said.
($=0.7743 euro)