As I understand it they had a 30+ year lease (from gov entity) for the site (UNESCO heritage site) and a condition of the lease was private use of certain beaches for the hotel. Making all the beaches public (presumably the overriding state law trumped the lease agreement) so it was simply a breach of the terms of the lease and therefore Aman ceased operations (and presumably ground lease payments etc.). A lot of money was spent on the hotel. However the ADR was probably 4-5x what they originally budgeted so I wouldn't be surprised if equity paid themselves out long ago, and so it became more of an EBRD issue as the original funder to the extent any debt remains outstanding. Or then everyone is already in the money so it just sits in limbo. Maybe Aman still has the lease in place, just doesn't need to pay so it's chicken and egg. No operation, no jobs, no taxes, no lease payments, but no alternative operator can be brought in. Being Montenegro, who knows...

With the island closes is there enough to do / see for a stay of more than a couple of nights? Or are you basically staying at a small B&B?

Without the island, this place probably isn’t worth it at the prices they’re charging (looks like it starts at ~2k per night in July - though I haven’t checked what other luxury hotels are charging this summer in Montenegro).

The Villa is relatively small and from what I can remember nothing too special. The spa building with the pool and BBQ restaurant is nice, but if they can’t keep that area private I can’t see how it will be comfortable…

Does anyone know whether even Villa Milocer will operate under Aman next year? Wondering if this is my last chance to visit Aman Sveti Stefan and I should jump on it.

I personally think they should have open the Island too. I don't mind the beach at the Sveti Stefan island remains public as long as The King & Queen beach can be private

The island is what is special and unique. It was a village, it has several small churches. Lodging is in homes once occupied by the fishermen who lived there. it is really one of a kind. The Villa Milocer is a lovely grand villa on the main land, not unlike many such villas now used as hotels or restaurants throughout Europe. I would only make an effort to go if I could spend time on the island.

The island doesn't have a beach. If you mean the beach on the mainland across the causeway from the island, it always was public (and that was never a problem). That is a big part of the reason why King's beach and Queen's beach being public is an issue: because there is no other (private) beach for guests to access.

Sounds like it's worth me hoping they'll open up the island next year. Can anyone recommend the best time to go outside of peak summer months?

Basically just before and just after peak. So May and then September. Generally the best time to avoid crowds that end of the world.

Aman was fantastic - though a bit out of the way. Definitely want the full island and spa experience as not much in immediate vicinity.

Otherwise nearer Kotor you have Regent Porto Montegro which is a very reasonably priced 5* hotel in a marina complex. There's the new One & Only but thats also out of the way - easier to land in Dubrovnik and you wouldn't really go anywhere from there. I haven't heard great things about Chedi as nice a development as it is. Nikki Beach have never been to but likely for the younger crowd I would have thought. Sorry - bit of a tangent!

Any sense from anyone if this will open summer 2024? As we're in April, seems sadly unlikely.