As of August 11, 2009, the island remains closed to the public.
In early 2007, Amanresorts, a Singapore based luxury resort operator won a contract to lease Sveti Stefan, along with the MiloÄer and KraljiÄina beach resorts for a 30 year period. The island was subsequently closed and extensive renovations began with plans to re-open in 2008. However, as of summer 2009, the resort remains closed and rennovations have ceased.