Montenegro Rising Montenegro, the Adriatic gem, has caught the eye of the luxury market. One&Only is building there as part of an upcoming multi-million dollar luxury development called Portonovi, scheduled for completion in 2016.

The development, located at the most narrow part of the entrance of the Bay of Boka Kotorska, is a 60-acre project right in between the mountains and the Adriatic. (Much like Los Angeles, visitors can hike in the morning and swim in the afternoon...or vice versa).

Once complete, Portonovi will include the One&Only Portonovi, a destination wellness spa, a marina catering to superyachts, a luxury beach club, the Portonovi Arena and Conference Centre and a tennis academy.

The Regent Porto Montenegro is slated to open in the second quarter of 2014 in a former Austro-Hungarian naval base. The hotel is located in the Porto Montenegro marina in the Bay of Kotor, and guests can make use of the 250 secure berths for their private yachts. (Good to know: A further 240 berths are currently in development, and the marina will soon have 122 berths for superyachts.)

The hotel will have some unique elements: For example, guests will be able to unwind in a central atrium with views of the sea and mountains, or in a water garden connected to a private island (good for exclusive events and dining, we hear).

Some hotels, meanwhile, have launched renovations to keep up with the new players.

The Aman Sveti Stefan resort just emerged from a restoration, adding a restaurant, bar, swimming pool, and terraces facing the sea.