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Luka Bar To Sell Hotel Asset

Luka Bar to sell hotel asset

Bar, Montenegro (PortSEurope) August 27, 2019 – Luka Bar A.D. Bar has announced the sale of the Anchor Hotel for €1.77 million ($1.96 million). According to the terms of the tender, the bidder will be obliged to pay the deposit and submit a confirmation thereof or submit a bank guarantee for the offer in favour of the Port Bar in the amount of €50,000. The
prospective investor will have an obligation to retain 35 hotel employees and comply with the Port of Bar collective agreement relating to subsidiaries. The Montenegrin port operator recorded a €22.1 million ($24.7 million) loss in 2018, due to the execution of an agreement for the payment of liabilities to employees and indirect write-off of customer receivables. Luka Bar is the state-owned operator of the port. Copyright (C) PortSEurope. All Rights Reserved. 2019.

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