One of the Most Luxurious Mountain Hotels in Europe Will Appear in Montenegro
Reconstruction of the Durmitor hotel under the management of the international chain Aman as part of its Janu brand: 55 suites, villas, and a modern spa center. The hotel is located in northern Montenegro within the Durmitor National Park, a UNESCO World Heritage site.
Durmitor Hotel in Žabljak under the Aman brand
The project to build a new hotel complex on the site of the historic hotel Durmitor in Žabljak has entered its final stage. According to the latest data, the property is set to become the most modern and luxurious mountain resort in Europe. The project is being financed by Adriatic Properties, owned by businessman Petros Stathis, and the hotel will be managed by the global leader in the ultra-luxury segment — the Aman network under the Janu brand.
The implementation of the project, worth around 50 million euros is under strict expert supervision, as the location lies within the Durmitor National Park, included on the UNESCO World Heritage List.
Architecture and room inventory
The hotel concept is based on preserving the authentic exterior appearance of the old building, constructed back in the 1930s. The architects integrated modern technological solutions into the historic facade, using exclusively natural materials — local stone and wood.
The complex includes:
Main building: 55 luxury suites with the standard range of services typical for the Aman brand.
Villas and bungalows: 12 separate premium residences located among the pine forest, which are almost invisible against the landscape.
Leisure infrastructure: a modern SPA center, fitness rooms, and a conference hall for high-level events.
Gastronomy: several restaurants with terraces offering views of mountain peaks and forested areas.
History of privatization and acquisition of the property
According to archival materials from the bankruptcy case of Ski-centar Durmitor, the privatization process for this property took several years. By the time of sale, the historic building from the 1930s was in a dilapidated condition, as confirmed by technical inspections.
The hotel property complex was sold at the 17th public auction (bidding). The previous 16 auctions were declared unsuccessful due to the absence of bids from potential buyers. During the lengthy bidding process, the starting price of the lot fell to the final 650 thousand euros, which were offered by the investor in the form of Adriatic Properties.
Sveti Stefan by Aman in Montenegro
The development of the project in Žabljak is proceeding in parallel with Aman’s large-scale return to the country’s coast. In May 2026, after a long break and the successful completion of negotiations between the investor and the Government of Montenegro, the relaunch of the iconic resort Aman Sveti Stefan was officially announced.
Villa Miločer will open its doors to guests on May 22, 2026.
The island of Sveti Stefan will begin full operations on July 1, 2026.
The agreement reached between Adriatic Properties and the state put an end to the years-long arbitration dispute. An important point of the agreement was the ban on further construction in Miločer Park (beyond the permits already issued), which guarantees the preservation of the unique natural ensemble around the royal residence.
Environmental and economic significance
The new hotel in Žabljak will be the first property of this level in the north of the country. The project предусматривает the use of renewable energy sources, intelligent climate control systems, and environmentally friendly waste disposal systems.
It is expected that the hotel’s opening will create more than 100 new jobs and attract a solvent audience from Western Europe, the USA, and Asia to the region, turning Žabljak into a year-round destination for elite eco-tourism. Construction is proceeding according to schedule, and the property is already being called the main architectural event of the year in the mountainous part of the Balkans.
