The Breza Hotel being constructed in Kolašin is expected to open this summer. The hotel has been included in the list of development projects in the tourism sector, with an investment of €21.6 million, according to the latest data. As part of the economic citizenship program, a total of 154 applications have been received for the hotel project, with 123 approved and 28 rejected.
This information was included in a recent report approved by the government, which pertains to the implementation of investments listed as development projects in tourism.
The Breza Hotel is being built by the company CG Resort from Tivat, and it was added to the development projects list in November 2019.
According to the business plan for the project, the hotel complex will be a five-star category with 148 accommodation units, totaling 308 beds. The estimated pre-construction value is €19.5 million, and the investor plans to create 120 new jobs within the hotel.
The government has previously approved seven semi-annual reports from independent auditors for periods starting November 7, 2019, and ending May 7, 2023. These reports confirm total investments for the project during that period amounting to €21.6 million, exceeding the planned investment amount. The Ministry of Regional Investment Development, in cooperation with non-governmental organizations, is processing the remaining independent auditor reports.
Despite the lack of quality road infrastructure, the investor plans to open the hotel by summer this year. The planned completion date for the construction of the hotel is November 15, 2025.
A bank guarantee of €1 million has been provided for the project, valid until December 15, 2025.
According to data from the Montenegro Investment Agency as of January 22, 2025, during the program’s duration, 154 applications were received for the project, with 123 approved and 28 rejected.
As previously announced, the hotel will operate under the Pullman Kolašin Breza brand, with the Accor hotel group backing the brand. A franchise agreement was signed between Accor and CG Resort representatives in June 2023.
