Industrial News

"We are quite pleased to have Jim Costa join us to lead our resort operations," said Isa Becovic, Managing Director of worldwide operations for Becovic Holdings, Inc., "Jim has an extensive and diiverse experience in opening hotels and resorts, and we feel especially fortunate that Jim also has experience managing resort hotels in Montenegro." James Costa was most recently the General Manager of Hotel Operations for Beppler and Jacobson in Montenegro, overseeing the 426-room Avala Resort & Villas in Budva and the 117-room Bianca Resort & Spa in Kolasin.

"This was an exceptional opportunity," said James Costa, "the combination of Becovic Holdings as an organization, the physical scale of the resort and its location overlooking the Adriatic Sea, and of course the tourism growth expected for the Ulcinj coastal area including Velika Plaza, were just amazing. I am excited as I get started here." The Montenegro coastal resort region, centered in Ulcinj, is considered to be the world's #1 tour and travel growth market for the next decade, according to the World Travel Tourism Council.

In addition to his experience with Montenegrin resort properties, James Costa's background includes hotel and resort properties in the Phillipines, Guam, Japan, and throughout the continental U.S. Over a long career, Mr. Costa has been called upon to direct pre-opening marketing, staffing, and training at new hotel facilities, as part of his duties as an operational general manager. Always active with industry associatoins, Costa is a current member of the Montenegro Tourism Board, the Montenegro Sustainable Tourism Council, and the Montenegro Hotel Association.

The Hotel Mediteran Resort is situated in the scenic Montenegro coastal town of Ulcinj, a community with more than 2,000 years of history. Plans for the coastal resort include continuing renovations of a portion of the existing guest rooms, banquet, and reception facilities, and the construction of all new spa, fitness, meeting, pool, and reception areas, as well as 4-star quality guest rooms. Becovic Holdings purchased the Hotel Mediteran in July 2005 from the Bankruptcy Court of Podgorica (Montenegro), with plans to redevelop the property into a first-class coastal destination resort. Prior to Becovic Holding's acquisition, the property had been a resort and hospitality asset of Ulcinj-based hotel-tourist company, Ulcinjska Rivijera.

Becovic Holdings, Inc. (www.BecovicHoldings.com) is a privately-held U.S.-based investment organization based in Chicago, with diversified interests in real estate development, property services, media, apparel, and tourism. The firm is affiliated with Becovic Propeties and Becovic Management Group, related entities involved with real estate investment, development, and property management in the U.S., with portfolio concentrations in Illinois, Indiana and Arizona. Many of Becovic Properties' premium residential communities in the Chicago metropolitan area are situated within easy walking distance of Lake Michigan, Lake Shore Drive, and downtown Chicago's entertainment, dining, and nightlife districts. Becovic Holdings and related entities trace their organizational foundation back more than 30 years, when the Becovic family emigrated to the U.S. from what has now become the new nation of Montenegro. Becovic Holdings' team for the Hotel Mediteran Resort revitalization includes owner's rep Stonecreek LLC (www.stonecreekllc.com) and the design team of Montenegro architect, Resulbegovic-Popovic, with Kahler Slater (U.S.) for conceptual design.

For more information or to make on-line reservations for summer 2007 at the Hotel Mediteran Resort, guests are invited to visit www.Hotel-Mediteran.com or calling (in Montenegro) +382 (0)85 403 124.

Queries concerning this media release may be made to BMG press representative Adventure Studios iMedia (www.adventurestudios.com) by phoning (in the U.S.) to +1 (818) 973-3157.