Source: Vijesti | Monday, 27.08.2012.| 13:27
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Montenegro-based hotels Onogost, Teuta and Niksic for sale again

(Onogost hotel)

The bankruptcy management of the hotel and tourism company (HTP) Onogost placed a new ad last week to sell hotels Onogost, Teuta and Niksic and the tavern Savnik at the total starting price of EUR 35.4 million.

Until September 10th, all interested companies and citizens must submit an application for participation in the new public auction along with a proof that they have paid a deposit in the amount of 10 percent of the starting price. The public auction will be held September 12th at noon on the premises of the Court of Commerce in Podgorica.

- All requirements for this sale have been met after the Court of Commerce passed a Decision to commence bankruptcy proceedings against HTP Onogost on 23 March 2012 - reads the ad.

Niksic-based Onogost hotel, which spans 8,850 sqm, will be offered for sale together with all auxiliary buildings, land with the yard and the parking lot at the starting price of EUR 10.9 million. This price also includes all the equipment, but it does not include licenses, hardware and software and art paintings.

The hotel Teuta in Risan will be offered for sale at the public auction at the starting price of EUR 18 million, whereas the starting price of Sutomore-based Niksic hotel is set at EUR 6.5 million. Savnik tavern will be offered for sale for EUR 20,000.

At the previous auction, when the starting price of this property was set at EUR 37 million, there were no bidders.

Since 2004, Onogost shares have been managed by HLT Fund. The management of HTP Onogost has sold 23 facilities for EUR 4.6 million since November 2002.

Onogost's debt currently amounts to EUR 2.5 million, excluding EUR 1 million that the company borrowed from the Montenegrin government.

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