The luxury resort Sveti Stefan in Montenegro may reopen after five years of closure. The government announced an agreement with leaseholder Adriatic Properties - the hotel must resume operations by June 2026.

The deal includes a five-year lease extension with no additional construction permitted in Milocer Park. The settlement avoids arbitration damages exceeding 100 million euros.

However, the Aman website still lists both properties as closed. The significance of this move extends beyond tourism for Montenegro.