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Nammos and Smokva Bay to Develop Luxury Adriatic Resort in Montenegro

Ten minutes from the iconic Sveti Stefan, a new luxury destination is taking shape on the Budva Riviera. Nammos Hotels & Resorts and developer Smokva Bay have finalized plans for a 117-key integrated resort, marking the brand’s first major expansion into the Montenegrin coast with a targeted opening in 2029.

The project integrates 47 hotel suites, 61 branded residences, and 9 private villas, all designed to blend Mediterranean architectural influences with the rugged coastal landscape. Beyond the accommodation, the site is slated to house a signature Nammos restaurant, the all-day dining concept Nalu, and the Ilios Lounge. The development aims to function as a self-contained village, incorporating wellness facilities, fitness trails, and curated retail spaces intended to attract high-end tourism to the region.

To build momentum ahead of the 2029 launch, the brand is debuting a seasonal pop-up restaurant at Sveti Stefan throughout 2026. This preview serves as a testing ground for the Nammos lifestyle, offering guests a glimpse of the dining and social atmosphere planned for the permanent site. Company executives, including Nammos Chairman Petros Stathis and Smokva Bay CEO Fredrik Jonsson, framed the partnership as a strategic move to establish a new hospitality benchmark in the Adriatic, combining international brand recognition with the specific cultural and aesthetic character of the Montenegrin coastline.

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