The company KHA1, owned by Agrokor and Karisma Resort International from Panama, purchased shares of Hotel Koločep at a public auction in Dubrovnik.
As reported by Dubrovački list, one minute before 10 a.m., at the public auction in Dubrovnik, the offer from the Zagreb company KHA 1 in the amount of 36.4 million kuna was accepted, which was also the starting price below which the Koločep hotels could not be sold.
PBZ also registered for the auction, which, as the holder of rights registered in the land registry, was not required to pay a deposit, while KHA1 paid the required amount of 10 percent of the starting price. However, the bank withdrew from the verbal bidding, so under the chairmanship of Judge Srđan Gavranović, Karisma Hotels Adriatic became the owner of 140,137 shares, which is a package of 88 percent.
‘We will see now if KHA1 will pay the required amount within 15 days, only then will it become the new owner,’ said bankruptcy administrator Ivanka Sušić.
‘We are extremely pleased that Karisma Hotels Adriatic is becoming the owner of Hotel Koločep, especially because this means a new beginning for hotels that were facing bankruptcy. From Koločep, we will create a valuable tourist project that will have exceptional benefits for both Croatian tourism and the economy as well as for the local community,’ stated the director of Karisma Hotels Adriatic, Marinko Benić, following the public auction.
The total investment of Karisma Hotels Adriatic in the Koločep Hotel project amounts to 18.6 million euros, of which approximately 4.6 million euros relates to the purchase of 88% of the company’s shares, about 4.7 million euros for the repayment of existing and assumed debts of the company, while Karisma Hotels Adriatic plans to invest an additional approximately 9 million euros in the renovation, management, and promotion of Hotel Koločep in the next year. In the very first season, a hotel occupancy of 83.5 percent is expected. The renovation of the facilities in the portfolio of Hotel Koločep is expected to be completed by the end of the current season, that is, in the post-season.
