Slovenians Are Buying the Podgora Hotels

Slovenian Tour Operator Relax bids for tender for purchase of majority stake in Podgora Hotels

The tender was open fro Zivogosce and Podgora Hotels which are in Croatian Privatisation Fund portfolio, but only one offer came, and it was for Podgora Hotel.

Investment of 152 million kuna

Slovenian tour operator offered 15 million kuna for share, and promised that in the first year he will keep all the 125 workers, offered redundancy packages to those entitled, under the valid regulations and collective agreement, and he also announced opening of new posts in future years.

Relax intends to invest 152 million Kuna, 102 million coming from their own capital, and the rest will be supplied through a loan. With that money they intend to raise Minerva and Podgora to four star hotels, and according to their plans other facilities will be renewed as well.

New forms of investments

Relax is the biggest Slovenian tourist company which brings to Croatian coast round 120, 000 tourists. Relax achieves annual profit of 20 million euros and has 150 workers.

It is the first attempt of this Slovenian company to try and invest in their own tourist facilities, because so far, they were involved solely in concluding their own holiday deals and organising tours, Jutarnji list writes.