The impoverished Balkan state of Montenegro has long been relegated to budget tourism status. But a string of high-profile luxury resort projects has this tiny country of 650,000 people poised to step into the international spotlight.rnPrivatization is a major component of the Montenegro story. The transition from communism to a free-market economy is mostly complete, but Montenegro's hotel inventory-largely unbranded and, until recently, state-owned-remains outdated due to decades of neglect. As such, opportunity abounds for international hotel companies to acquire existing assets at affordable prices and spruce them up, says Fred Wieland, international advisor for Montenegro's Ministry of Tourism and the former president of Preferred Hotels & Resorts.
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