Karisma, Dobrov & Family to build 160 mln euro hotel in Montenegro

International news
Karisma Hotels & Resorts and Russian company Dobrov & Family Group said they plan to build a 160 million euro ($173 million) hotel in Ulcinj, on Montenegro's Adriatic coast.

The five-star Porta Rai hotel and residential complex will be located at Velika Plaza, one of the longest sand beaches in Europe, the two companies said in a joint emailed statement on Thursday.

"Our aim is to start construction in November this year, and the plan is to implement the whole project in a period of three to four years," the head of Dobrov & Family Group for Montenegro, Dragan Lucic, said in the statement.

The complex will include luxury bars and restaurants, a wellness and spa centre, seven swimming pools, tennis and basket ball courts, mini golf, various playgrounds for kids, a promenade and an exclusive retail zone, among others.

Dobrov & Family Group, owned by Russian businessman Andrey Dobrov, is active in hospitality, property development, entrepreneurship and renewable energy investments. It is present in the Czech Republic, Switzerland, Cyprus, Germany and Montenegro.

Karisma Hotels & Resorts is a global luxury hotel operator which owns, manages and develops a portfolio of properties in Latin America, the Caribbean and Europe, under the brands of Nickelodeon Hotels & Resorts by Karisma, Margaritaville Island Reserve Resorts by Karisma, Azul Beach Resorts by Karisma, Karisma Villas, among others.