A RARE FIVE-STAR DEVELOPMENT OPPORTUNITY
HOTEL ŽAGER
HOTEL ŽAGER
FIVE-STAR BEACHFRONT HOTEL
BAY OF KOTOR · MONTENEGRO
FIVE-STAR BEACHFRONT HOTEL
BAY OF KOTOR · MONTENEGRO
Approximately 80% completed, Hotel Žager presents a rare opportunity to acquire and complete a substantial five-star beachfront hotel on the Bay of Kotor. With the majority of the development already completed, the property combines a rare existing investment with direct waterfront positioning and substantial potential for completion, expansion and future operation.
Approximately 80% completed, Hotel Žager presents a rare opportunity to acquire and complete a substantial five-star beachfront hotel on the Bay of Kotor. With the majority of the development already completed, the property combines a rare existing investment with direct waterfront positioning and substantial potential for completion, expansion and future operation.
16,843 M²
16,843 M²
16,843 M²
GROSS BUILT AREA
GROSS BUILT AREA
6,308 M²
6,308 M²
6,308 M²
LAND PLOT
LAND PLOT
180 M
180 M
PRIVATE BEACHFRONT
PRIVATE BEACHFRONT
97
97
ACCOMMODATION UNITS
ACCOMMODATION UNITS
200+
200+
GUEST CAPACITY
GUEST CAPACITY
50+
50+
PARKING SPACES
PARKING SPACES
— THE INVESTMENT —
— THE INVESTMENT —
A CLEAR & TRANSPARENT
OVERVIEW - 14 KEY POINTS
A CLEAR & TRANSPARENT
OVERVIEW -
14 KEY POINTS
Our aim is to present the opportunity with clarity and transparency, allowing prospective buyers to quickly understand both the current position of the project and its future potential.
The following 14 key points bring together the most relevant facts - from construction status, permits and existing investment to expansion opportunities, accessibility and transaction structure - providing a clear and balanced overview of the project before entering into further discussions.
01
FULLY PERMITTED &
READY TO PROCEED
All required permits, approvals and licences have been obtained, significantly reducing development risk and providing the incoming owner with a well-advanced project that can move directly towards completion without having to restart the principal permitting and approval processes.
02
80% COMPLETE
CLOSE TO DELIVERY
Construction is approximately 80% completed, with the principal structure and substantial elements already in place. The advanced stage of construction provides the incoming owner with a significantly developed asset while retaining the opportunity to influence the final design, finishes and overall positioning of the hotel.
03
DIRECT OWNER ACCESS
& SECURE PROCESS
The owner holds a substantial portfolio of assets in Montenegro and has invested significantly in the development’s construction and quality. The sale is handled exclusively through the owner’s local representatives, providing direct access to the decision-making process and a clear and discreet transaction process.
04
180M OF PRIVATE
WATERFRONT
Approximately 180 metres of private beachfront create a distinctive position directly on the Montenegrin coast. An existing beach concession provides the opportunity for future beach enhancements, subject to the necessary approvals, further strengthening the hotel’s waterfront offering and the overall guest experience.
05
READY FOR CASINO
OPERATIONS
The casino opportunity has already been explored and confirmed as a viable option for the five-star hotel development, subject to obtaining the required licence and regulatory approvals. Casino licences in Montenegro are issued for 15 years, offering the future owner an additional potential revenue stream.
06
ALL-DAY SUN EXPOSURE
WITH SUNRISE TO SUNSET
All-day sun exposure, with sunrise over Kotor and Perast and sunset towards Herceg Novi and the Adriatic Sea, offering up to approximately 14–15 hours of daylight during the peak summer months and excellent natural light throughout the day.
07
€1.8–2.0M IN MATERIALS
& EQUIPMENT SECURED
Approximately €1.8–2.0 million of materials, fixtures, equipment and installations have already been purchased and are included in the project. These existing assets represent a significant investment already made towards completion and provide the incoming owner with an established foundation for continuing the remaining works.
08
APPROVED EXPANSION
TWO ADDITIONAL FLOORS
As part of the hotel’s reconstruction, two additional floors have already been added to the original building, increasing the overall scale and accommodation capacity of the development. The expanded structure now forms part of the five-star hotel project, which is currently in the final phase of construction.
09
MULTIPLE REVENUE
OPPORTUNITIES
The property is designed for accommodation, dining, spa & wellness, conferences, events and weddings, alongside its beachfront offering. Existing facilities include a restaurant, spa & wellness areas, conference spaces and over 50 parking spaces.
10
FURTHER EXPANSION
ADDITIONAL 2,229 M² LAND
An adjacent 2,229 m² land parcel, located directly next to the hotel, presents an opportunity for potential future expansion. Its immediate proximity to the existing development provides the incoming owner with additional flexibility when considering the property’s longer-term development and positioning.
11
EXCEPTIONAL ACCESSIBILITY
THREE AIRPORTS - EASY REACH
Tivat Airport is approximately 30–40 minutes away, Podgorica Airport and Dubrovnik Airport approximately 1.5–2 hours. Tivat and Porto Montenegro can be reached in approximately 10–15 minutes by boat and Herceg Novi in approximately 15–20 minutes by car, providing excellent regional connectivity.
12
COMPLETION INVESTMENT
APPROX. €6–8M
Approximately €6–8 million, depending on the desired design, finishes and quality level. The new owner may also be given access to the seller’s representatives and established project network, enabling a smooth continuation of the project and potential completion within approximately 8–12 months.
13
HOTEL AT A GLANCE
A substantial five-star beachfront development comprising 16,843 m² of gross built area on a 6,308 m² land plot. The hotel features 97 accommodation units — 85 rooms, 11 apartments and 1 Presidential Suite — with capacity for approximately 200 guests, extensive spa & wellness facilities, restaurant, conference and congress facilities.
14
FLEXIBLE TRANSACTION
STRUCTURE
The seller is not under pressure to complete a transaction within a fixed timeframe and may consider a staged payment structure for the right buyer. Any such arrangement would be reflected in the overall purchase price, providing scope to discuss a transaction structure that works for both parties.
01
FULLY PERMITTED &
READY TO PROCEED
All required permits, approvals and licences have been obtained, significantly reducing development risk and providing the incoming owner with a well-advanced project that can move directly towards completion without having to restart the principal permitting and approval processes.
02
80% COMPLETE
CLOSE TO DELIVERY
Construction is approximately 80% completed, with the principal structure and substantial elements already in place. The advanced stage of construction provides the incoming owner with a significantly developed asset while retaining the opportunity to influence the final design, finishes and overall positioning of the hotel.
03
DIRECT OWNER ACCESS
& SECURE PROCESS
The owner holds a substantial portfolio of assets in Montenegro and has invested significantly in the development’s construction and quality. The sale is handled exclusively through the owner’s local representatives, providing direct access to the decision-making process and a clear and discreet transaction process.
04
180M OF PRIVATE
WATERFRONT
Approximately 180 metres of private beachfront create a distinctive position directly on the Montenegrin coast. An existing beach concession provides the opportunity for future beach enhancements, subject to the necessary approvals, further strengthening the hotel’s waterfront offering and the overall guest experience.
05
READY FOR CASINO
OPERATIONS
The casino opportunity has already been explored and confirmed as a viable option for the five-star hotel development, subject to obtaining the required licence and regulatory approvals. Casino licences in Montenegro are issued for 15 years, offering the future owner an additional potential revenue stream.
06
ALL-DAY SUN EXPOSURE
WITH SUNRISE TO SUNSET
All-day sun exposure, with sunrise over Kotor and Perast and sunset towards Herceg Novi and the Adriatic Sea, offering up to approximately 14–15 hours of daylight during the peak summer months and excellent natural light throughout the day.
07
€1.8–2.0M IN MATERIALS
& EQUIPMENT SECURED
Approximately €1.8–2.0 million of materials, fixtures, equipment and installations have already been purchased and are included in the project. These existing assets represent a significant investment already made towards completion and provide the incoming owner with an established foundation for continuing the remaining works.
08
APPROVED EXPANSION
TWO ADDITIONAL FLOORS
As part of the hotel’s reconstruction, two additional floors have already been added to the original building, increasing the overall scale and accommodation capacity of the development. The expanded structure now forms part of the five-star hotel project, which is currently in the final phase of construction.
09
MULTIPLE REVENUE
OPPORTUNITIES
The property is designed for accommodation, dining, spa & wellness, conferences, events and weddings, alongside its beachfront offering. Existing facilities include a restaurant, spa & wellness areas, conference spaces and over 50 parking spaces.
10
FURTHER EXPANSION
ADDITIONAL 2,229 M² LAND
An adjacent 2,229 m² land parcel, located directly next to the hotel, presents an opportunity for potential future expansion. Its immediate proximity to the existing development provides the incoming owner with additional flexibility when considering the property’s longer-term development and positioning.
11
EXCEPTIONAL ACCESSIBILITY
THREE AIRPORTS - EASY REACH
Tivat Airport is approximately 30–40 minutes away, Podgorica Airport and Dubrovnik Airport approximately 1.5–2 hours. Tivat and Porto Montenegro can be reached in approximately 10–15 minutes by boat and Herceg Novi in approximately 15–20 minutes by car, providing excellent regional connectivity.
12
COMPLETION INVESTMENT
APPROX. €6–8M
Approximately €6–8 million, depending on the desired design, finishes and quality level. The new owner may also be given access to the seller’s representatives and established project network, enabling a smooth continuation of the project and potential completion within approximately 8–12 months.
13
HOTEL AT A GLANCE
A substantial five-star beachfront development comprising 16,843 m² of gross built area on a 6,308 m² land plot. The hotel features 97 accommodation units — 85 rooms, 11 apartments and 1 Presidential Suite — with capacity for approximately 200 guests, extensive spa & wellness facilities, restaurant, conference and congress facilities.
14
FLEXIBLE TRANSACTION
STRUCTURE
The seller is not under pressure to complete a transaction within a fixed timeframe and may consider a staged payment structure for the right buyer. Any such arrangement would be reflected in the overall purchase price, providing scope to discuss a transaction structure that works for both parties.
01
FULLY PERMITTED &
READY TO PROCEED
All required permits, approvals and licences have been obtained, significantly reducing development risk and providing the incoming owner with a well-advanced project that can move directly towards completion without having to restart the principal permitting and approval processes.
02
80% COMPLETE
CLOSE TO DELIVERY
Construction is approximately 80% completed, with the principal structure and substantial elements already in place. The advanced stage of construction provides the incoming owner with a significantly developed asset while retaining the opportunity to influence the final design, finishes and overall positioning of the hotel.
03
DIRECT OWNER ACCESS
& SECURE PROCESS
The owner holds a substantial portfolio of assets in Montenegro and has invested significantly in the development’s construction and quality. The sale is handled exclusively through the owner’s local representatives, providing direct access to the decision-making process and a clear and discreet transaction process.
04
180M OF PRIVATE
WATERFRONT
Approximately 180 metres of private beachfront create a distinctive position directly on the Montenegrin coast. An existing beach concession provides the opportunity for future beach enhancements, subject to the necessary approvals, further strengthening the hotel’s waterfront offering and the overall guest experience.
05
READY FOR CASINO
OPERATIONS
The casino opportunity has already been explored and confirmed as a viable option for the five-star hotel development, subject to obtaining the required licence and regulatory approvals. Casino licences in Montenegro are issued for 15 years, offering the future owner an additional potential revenue stream.
06
ALL-DAY SUN EXPOSURE
WITH SUNRISE TO SUNSET
All-day sun exposure, with sunrise over Kotor and Perast and sunset towards Herceg Novi and the Adriatic Sea, offering up to approximately 14–15 hours of daylight during the peak summer months and excellent natural light throughout the day.
07
€1.8–2.0M IN MATERIALS
& EQUIPMENT SECURED
Approximately €1.8–2.0 million of materials, fixtures, equipment and installations have already been purchased and are included in the project. These existing assets represent a significant investment already made towards completion and provide the incoming owner with an established foundation for continuing the remaining works.
08
APPROVED EXPANSION
TWO ADDITIONAL FLOORS
As part of the hotel’s reconstruction, two additional floors have already been added to the original building, increasing the overall scale and accommodation capacity of the development. The expanded structure now forms part of the five-star hotel project, which is currently in the final phase of construction.
09
MULTIPLE REVENUE
OPPORTUNITIES
The property is designed for accommodation, dining, spa & wellness, conferences, events and weddings, alongside its beachfront offering. Existing facilities include a restaurant, spa & wellness areas, conference spaces and over 50 parking spaces.
10
FURTHER EXPANSION
ADDITIONAL 2,229 M² LAND
An adjacent 2,229 m² land parcel, located directly next to the hotel, presents an opportunity for potential future expansion. Its immediate proximity to the existing development provides the incoming owner with additional flexibility when considering the property’s longer-term development and positioning.
11
EXCEPTIONAL ACCESSIBILITY
THREE AIRPORTS - EASY REACH
Tivat Airport is approximately 30–40 minutes away, Podgorica Airport and Dubrovnik Airport approximately 1.5–2 hours. Tivat and Porto Montenegro can be reached in approximately 10–15 minutes by boat and Herceg Novi in approximately 15–20 minutes by car, providing excellent regional connectivity.
12
COMPLETION INVESTMENT
APPROX. €6–8M
Approximately €6–8 million, depending on the desired design, finishes and quality level. The new owner may also be given access to the seller’s representatives and established project network, enabling a smooth continuation of the project and potential completion within approximately 8–12 months.
13
HOTEL AT A GLANCE
A substantial five-star beachfront development comprising 16,843 m² of gross built area on a 6,308 m² land plot. The hotel features 97 accommodation units — 85 rooms, 11 apartments and 1 Presidential Suite — with capacity for approximately 200 guests, extensive spa & wellness facilities, restaurant, conference and congress facilities.
14
FLEXIBLE TRANSACTION
STRUCTURE
The seller is not under pressure to complete a transaction within a fixed timeframe and may consider a staged payment structure for the right buyer. Any such arrangement would be reflected in the overall purchase price, providing scope to discuss a transaction structure that works for both parties.
— THE PROPERTY —
— THE PROPERTY —
MODERN DESIGN.
EXCEPTIONAL SETTING.
Positioned between the mountains and the waters of the Bay of Kotor, Hotel Žager has been conceived as a contemporary five-star destination shaped by its extraordinary natural surroundings.
The architecture opens the property towards the landscape, bringing together sea views, light and the dramatic Montenegrin coastline. From arrival through to the waterfront, the setting gives the hotel a strong sense of place and a character that feels distinctly connected to the Bay of Kotor.
Rather than creating a conventional resort, the vision is for a destination where architecture, hospitality and the waterfront come together as one experience - with the scale and setting to become a distinctive property on the Montenegrin coast.
— THE LOCATION —
— THE LOCATION —
A STRATEGIC POSITION ON THE BAY OF KOTOR.
A STRATEGIC POSITION ON THE
BAY OF KOTOR.
A STRATEGIC POSITION ON THE BAY OF KOTOR.
Hotel Žager occupies a direct waterfront position in Bijela, near Herceg Novi, combining privacy and sea views with access to some of Montenegro’s established luxury destinations. The property is positioned within reach of Portonovi and Porto Montenegro, with international connectivity through Tivat, Dubrovnik and Podgorica airports.
Accessible by both road and sea, the location provides a compelling setting for an international luxury hospitality destination. The property also benefits from all-day sun exposure, with sunrise towards Kotor and Perast and sunset towards Herceg Novi and the Adriatic Sea.
Hotel Žager occupies a direct waterfront position in Bijela, near Herceg Novi, combining privacy and sea views with access to some of Montenegro’s established luxury destinations. The property is positioned within reach of Portonovi and Porto Montenegro, with international connectivity through Tivat, Dubrovnik and Podgorica airports.
Accessible by both road and sea, the location provides a compelling setting for an international luxury hospitality destination. The property also benefits from all-day sun exposure, with sunrise towards Kotor and Perast and sunset towards Herceg Novi and the Adriatic Sea.
— THE PRICE —
— THE PRICE —
A CLEAR INVESTMENT PICTURE.
A CLEAR INVESTMENT PICTURE.
With an asking price of €25 million, Hôtel Žager represents an acquisition cost of approximately €1,484 per m² based on 16,843 m² of gross built area, or approximately €2,030 per m² based on 12,318 m² of usable hotel area, excluding the garage.
Approximately 80% completed and fully permitted, the property offers a substantially advanced development on the Bay of Kotor. The development also includes 2,230 m² of garage and technical areas, forming part of a total net built area of 14,548 m².
An estimated additional €6–8 million is expected to complete the hotel, depending on the incoming owner’s preferred design, finishes and quality level.
The illustration below presents both perspectives, distinguishing between gross built area and usable hotel area. A €6–8 million completion budget results in a total investment of €31–33 million, equivalent to approximately €1,841–€1,959 per m² of gross built area, or approximately €2,517–€2,679 per m² of usable hotel area.
This provides prospective investors with a transparent view of the investment across both measures, while the acquisition also includes the 6,308 m² waterfront plot and approximately 180 metres of private beachfront.
With an asking price of €25 million, Hôtel Žager represents an acquisition cost of approximately €1,484 per m² based on 16,843 m² of gross built area, or approximately €2,030 per m² based on 12,318 m² of usable hotel area,
excluding the garage.
Approximately 80% completed and fully permitted, the property offers a substantially advanced development on the Bay of Kotor.
The development also includes 2,230 m² of garage and technical areas, forming part of a total net built area of 14,548 m².
An estimated additional €6–8 million is expected to complete the hotel, depending on the incoming owner’s preferred design, finishes and quality level.
The illustration below presents both perspectives, distinguishing between gross built area and usable hotel area.
A €6–8 million completion budget results in a total investment of €31–33 million, equivalent to approximately €1,841–€1,959 per m² of gross built area, or approximately €2,517–€2,679 per m² of usable hotel area.
This provides prospective investors with a transparent view of the investment across both measures, while the acquisition also includes the 6,308 m² waterfront plot and approximately 180 metres of private beachfront.
A CLEAR
INVESTMENT
PICTURE.
A PROPERTY DEFINED BY ITS SETTING.
Architecture. Waterfront. Views. Potential.
— CONTACT —
— CONTACT —
WE’D LOVE TO HEAR FROM YOU
WE’D LOVE TO
HEAR FROM YOU
WE’D LOVE TO HEAR FROM YOU
Interested in Hotel Žager? We would be pleased to hear from you.
Interested in Hotel Žager?
We would be pleased to hear from you.