Regent Hotels & Resorts has confirmed The Investment Corporation of Dubai, the principal investment arm of the Government of Dubai, has agreed to the purchase of Porto Montenegro Marina & Resort in May 2016. The transaction marks ICD’s first investment in Montenegro and the yacht marina sector, both of which are expected to experience strong growth in coming years.
Regent Porto Montenegro has opened its doors to guests for the first time. The 51-room and 35-suite deluxe property is the first and only hotel in the Porto Montenegro super-yacht marina resort and is Regent Hotels & Resorts’ second property in Europe and its seventh world-wide. “We are absolutely thrilled to announce the opening of the Regent Porto Montenegro, the latest addition to the growing Regent Hotels & Resorts collection,” said Mark Lettenbichler, chief executive, Regent Hotels & Resorts.
After gaining independence in 2006, Montenegro, a country half the size of Wales and with a population of just 625,000 has attracted over €4 billion in foreign investment, and now has investors from over 100 countries around the world. The latest property development funded by British private equity company, the Boka Group - who have themselves managed over €1 billion of development value in the country, celebrated the start of construction on its latest scheme of luxury villas overlooking Kotor Bay last week, marking the start with a foundation stone ceremony attended by the mayor of Kotor.
Explore Montenegro, a new UK tour operator that specialises in Montenegrin villas and apartments, has launched ahead of the 2012 summer season. It is the first and only operator to offer a portfolio solely focused on Montenegro to the UK market.
Montenegro will be the fastest growing travel & tourism economy in the world over the next ten years with regard to travel & tourism’s contribution to GDP and employment, according to the latest economic impact research from the World Travel & Tourism Council (WTTC) and Oxford Economics.
Breaking Travel News interviews Branimir Gvozdenovic, Government of Montenegro at WTTC 2008, Dubai.