- Hotel Mediteran
The Hotel Mediteran [http://www.hotel-mediteran.com] , located in the coastal town of
Ulcinj inMontenegro , is one of the first privatization deals completed by the new nation of Montenegro. The hotel was acquired by in July 2005 through the Commerce Court ofPodgorica .As part of its acquisition of the resort facility, Becovic Holdings agreed to invest court-stipulated funds, to renovate the property, in order to return it to its status as a popular destination resort on the
Adriatic Coast .The Facility had been a resort and hospitality asset of Ulcinj-based hotel-tourist company, Ulcinjska Rivijera. According to the Purchase Agreement, BHC's required to invest no less than 6,150,000.00 Euros in the renovation of the Property, within a three-year period. BHC purchased the property through a contract executed in Ulcinj; specifically Sales Agreement Number 1171 dated
July 25 ,2005 .The Hotel Mediteran is situated in an historic area known for habitation by the [http://en.wikipedia.org/wiki/Illyrians Illyrians] and one of the oldest civilized coastal towns in the eastern Mediterrean.
External Links
1 [http://www.becovicholdings.com Becovic Holdings Corporation]
References
1 [http://www.agencijacg.org/tenderi/1115199476.pdf Commercial Court of Podgorica Tender Announcement for Hotel Mediteran]
2 [http://www.state.gov/e/eeb/ifd/2008/100990.htm U.S. Dept. of State Announcement of American Purchase of Hotel Mediteran]
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