The Kotor-based company Sunny Palace has recently taken full ownership of one of the most attractive locations in Ulcinj and Montenegro: the plot of land where the “Galeb” hotel once stood. By acquiring the land, the company is beginning construction of a high-end hotel complex on this important site forUlcinj.
Sunny Palace, as confirmed by the portalInvestor, had previously paid the full market value of the land to the former owner, Rokšped, “which created all the conditions for it to fully take over the management of the former hotel site.”
In addition to the purchase price paid to the former owner, the company also assumed the former owner’s obligation to the state to invest more than 15 million euros in the construction of a new hotel, they said.
As previously reported, Sunny Palace’s goal is to build a luxury hotel and one of the largest 5-star hotels on the Montenegrin coast, “and thus restore this place to its former glory, because the tradition and reputation of the former Galeb hotel — a symbol of the city of Ulcinj — deserve it.”
The company has already engaged international consultants and architects to develop the concept and strategy for the future hotel as efficiently and as well as possible. The hotel will operate within one of the well-known international hotel chains. Contacts on this matter have already been established with several operators.
“We all know how much Budva changed with the construction of the Splendid hotel, how Tivat moved forward with the construction of the Regent and Chedi hotels, and how much Herceg Novi benefited from the arrival of the One&Only hotel brand. With this project, we want to achieve the same success for Ulcinj, which, with all its potential and natural resources, fully deserves such a significant rise with the new Galeb, a symbol and foundation of the hotel industry in the city of Ulcinj. We count on cooperation with the local government and other investors already present in Ulcinj to jointly promote this city as an attractive investment and tourism destination for year-round tourism.
Kolasin can be a great example for us of how synergy between the state, the municipality, and investors turned the city into a dynamic investment destination in a relatively short period of time,” said Radojka Vuković, the company’s executive director.