MIXED USE RESORTS IN THE CONTEXT OF SUSTAINABLE TOURISM DEVELOPMENT (CASE: MONTENEGRO)

Abstract

This paper examines the phenomenom of mixed
use resorts as a contemporary form of development
of accommodation industry. The aim is to
precisly define this type of resort, to represent some
succesful models in the world and to consider the
challenges of sustainable development of this
type of accommodation facilities. In particular,
we analyze the first international project of mixed
use resorts in Montenegro, known as Lustica Bay.
Sustainability of a concrete example is analyzed in
terms of the Stategy of sustainable tourism development
of Montenegro and theoretical aspects of
the sustainability of tourism development.
Tourism development is accompanied by
the problem of insufficiency of financial resources
for development. Credit and equity
financing have their constant limitations
regarding the extent of capital and cost of
credit funds. Therefore, it is combined with
a model of real estate sales, which, in good
part, would be involved in the operational
business of mixed use resorts. These restrictions
are even more emphasized in Montenegro,
as a country in transition.
When we add to that the lack of the necessary
infrastructure to support foreign investors
(capable and efficient administration, flexible
urban plans, well-explored areas in terms of
sustainability, credible domestic developed
companies-local developers who could be reliable
partner for foreign investors and so on),
then it is clear that in the last 2-3 decades,
weekend flats and houses (second homes) are
incomparably more rapidly built than the ho-tels, resorts and similar objects which have the
greatest impact on the economy and society.
This paper identifies the main challenges
and threats of such development, where mixed
use resorts are often abused as an entry ticket
for the development of new resorts for sale
instead of new accommodation facilities for
tourism economy. The challenges of a selected
case for research suggest a concrete manifestation
of generally identified problems and
development threats.