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Colliers introduced as new asset manager for the Ramada Hotel in Podgorica, Montenegro

Podgorica - The Hospitality Asset Management team from London, in colaboration with the Montenegrin Colliers office have been instructed by Savana Gruppen to provide asset management services for the Ramada Hotel in Podgorica, Montenegro.

These services will cover financial, sales and marketing management, as well as revenue management and leadership/GM support.

The Colliers’ Hospitality Asset Management team was introduced to the client in May 2018 via Milovan Novaković, general manager of Colliers International Montenegro. The Montenegrin office conducted an independent review of the hotel and its key operational performance drivers, its issues and overall business strategy.

The team was subsequently engaged by the owner in October 2018 to provide full asset management services for the hotel.

The Swedish investor Savana Holding AB is a privately owned construction and property company with two main lines of business: the development and administration of commercial properties under its own management, as well as the development of private apartments.


About Colliers International Group Inc.

Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is a top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $25 billion of assets under management from the world’s most respected institutional real estate investors.

Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row.

Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years.

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Colliers International Contacts

Milovan Novaković

General Manager

+382 69 388 814

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Milovan Novakovic

General Manager


Milovan joined Colliers International in 2007 and has started as an ICAS Officer.

In 2009 he took the role of Senior office representative and he was coordinating all activities of the Montenegrin office together with SEE Regional director.

At the end of 2010 he officially became General Manager of Colliers International, Montenegro.

Milovan has graduated at the Faculty of Economics in Podgorica and before he joined Colliers International he worked as Computer Designer, Research Assistant, Advisor for Marketing, Financial Officer, Marketing Manager and free entrepreneur. Milovan has successfully undertaken research studies related to all types of property, such as hotels and resorts, industrial premises, office and retail blocks, land parcels and residential properties and he was directly involved in all big projects that Colliers has done in Montenegro. He is a certified appraiser and he is LEED qualified. He is a member of the Board of Directors of the Green Building Council of Montenegro and Colliers is the Co-Founder of that Organization​. From December 2014 he is a member of Royal Institutution of Chartered Surveyors.

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