The hotel operator Aman Resorts confirmed that the resort will resume operations, highlighting the importance of the agreement reached.
“In light of the recent constructive discussions between our partners, Adriatic Properties and the Government of Montenegro, led by Prime Minister Milojko Spajić, we are pleased to share encouraging news about the future of Sveti Stefan,” Aman said in a statement.
The company emphasized that Sveti Stefan remains one of the most prominent destinations within its global portfolio and confirmed the reopening, adding that the exact opening date will be announced shortly.
“We look forward to welcoming guests once again and continuing close cooperation with our partners and Montenegrin authorities to ensure the long-term success of this iconic destination,” the statement reads.
End of arbitration and a new cooperation model
Adriatic Properties provided further details on the key elements of the agreement, confirming that it brings an end to the arbitration process that had weighed on relations with the state.
“A comprehensive settlement agreement has been reached, enabling the reopening of Aman Sveti Stefan and a full exit from arbitration,” the company stated.
A particularly significant development is the lessee’s decision to waive all potential compensation claims that could have been awarded by the arbitration tribunal. In addition, a profit-sharing model in favor of the state of Montenegro has been established, forming a new basis for long-term cooperation.
Adriatic Properties underlined that the agreement is the result of two years of constructive dialogue with the Government, local authorities, and the community, including the Municipality of Budva and the Paštrovići community.
Economic impact and signal to investors
The reopening of Sveti Stefan carries substantial economic importance. Beyond direct tourism revenues, it is expected to send a strong signal to international investors about the stabilization of Montenegro’s investment environment.
The Sveti Stefan complex has long been a symbol of luxury tourism and one of the strongest brands in Montenegro’s global tourism offering. Its return could help extend the tourist season, attract high-spending clientele, and boost revenues across the service sector.
At the same time, the cooperation model – based on compromise, withdrawal of arbitration claims, and profit sharing – may serve as a benchmark for resolving complex investment disputes in the region.
Focus on 2026: Restoring “full glory”
Both Aman and Adriatic Properties emphasize a shared goal: restoring Sveti Stefan to its position as a world-class luxury destination.
“We are focused on restoring Sveti Stefan to its full glory and continuing to create long-term value for Montenegro,” Adriatic Properties stated.
If the agreement is implemented smoothly, the summer of 2026 could mark the beginning of a new chapter for one of the country’s most important tourism projects.
