Herceg Novi to recover 1.4 million euros from Hotel Plaža sale

The sale of Hotel Plaža is expected to generate approximately 1.4 million euros for local creditors in Herceg Novi. This amount will cover outstanding debts owed by the company Vektra Boka, specifically around 800,000 euros in taxes owed to the municipality and roughly 600,000 euros owed to the local water and sewage utility company.

Stevan Katić, the President of the Herceg Novi Municipality, stated that the new owner of Hotel Plaža has until mid-October to pay 20.4 million euros. This payment is intended to settle obligations to all creditors. While previous asset seizures, such as the sale of Hotel Igalo and certain land parcels, have partially recovered tax debts, they have not fully cleared Vektra Boka’s total liabilities to the municipality. The current sale represents a continued effort to resolve long-standing debts that have increased over time due to interest.