OTP Bank will announce the sale of hotel Queen Of Montenegro

Hungarian OTP Bank launched procedure of loan repaymant of 35 million euro, which gave to newly established hotel company, The Queen of Montenegro (which manages the complex) six years ago.

Hungarians will offer hotel on sale because Russian-Montenegrin company do not pay their credit obligations for four years.

Director and co-owner of Hotel Queen of Montenegro Dragan Ivancevic confirmed that hotel and property of companie will be offered on a non-judicial sale after OTP activated mortgage.

According to unofficial information, hotel will be offered for sale at beginning of next year.

Before privatization, the name of hotel was Panorama, which managed  by Miločer company.

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– Management continues to do their job until we find another owner, but bank takes over the property which was the subject of pledge – said Ivancevic.

He pointed out that search for new owners is business of the bank.

– As the Queen of Montenegro is  great potential and project  that sholud be stored, we are here to ensure the continuity and quality of work and I am sure that futureof  hotel will not be affected – said Ivancevic.

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