The luxury resort of Sveti Stefan in Montenegro is expected to reopen to guests by no later than June 2026, after five years of closure and following progress toward a settlement between the state and the lessee, Adriatic Properties. Prime Minister Milojko Spajić said the formal conditions for reopening had been met after the government adopted a proposal on settlement terms in proceedings in London, presenting the move as the result of intensive negotiations and as a solution that protects the state’s interests. According to the announced terms, Montenegro has avoided potential damages estimated at more than €100 million.
The planned arrangement has more favourable financial conditions for the domestic companies Sveti Stefan Hotels and HTP Miločer. Reported details say lease revenues will increase, the amounts will be indexed to inflation from the start of operations, and the difference in the calculated lease amount will be paid without delay. Another element of the package is the extension of the lease for five years, matching the period during which the complex was out of operation.
Under the terms outlined in the reports, Adriatic Properties would be under a clear obligation to reopen the hotel by June 2026 at the latest. The government presented the agreement as one that could have a strong positive effect on Montenegro’s tourism sector and international image, with the reopening described as a step toward restoring one of the country’s most recognisable luxury tourism symbols and bringing elite tourism back to one of the Adriatic’s most prestigious locations.
The reopening for this summer was also confirmed in statements attributed to Aman and Adriatic Properties, which said that more precise information on the exact reopening date would be made public as soon as possible. At the same time, one of the reports noted that Aman’s official site still lists Aman Sveti Stefan and Villa Miločer as closed, with reopening dates to be announced later, indicating that while the political and business framework for the return has been set, the practical resumption of guest operations still awaits final confirmation.
The reports present the reopening not only as a tourism story but also as a politically significant development after a long dispute over the lease, public access, and the future of the complex. Because Sveti Stefan has long been one of the best-known symbols of Montenegrin tourism, its reopening is being framed as a major effort to restore one of the country’s most valuable assets to the map of high-end Mediterranean destinations.
