Vranjica Belvedere d.d., Seget Vranjica

Vranjica Belvedere d.d.,
Seget Vranjica
Company name:
Vranjica Belvedere d.d.
Address:
21218 Seget Vranjica, Kralja Zvonimira 62
Web site:
www.vranjica-belvedere.hr
TRANSACTION
Republic of Croatia through the Agency for State Property Management
(AUDIO) has the goal to finish the privatisation process of its tourism
portfolio (hotel companies owned and partially owned by the Republic of
Croatia).
Sales model: shares will be sold through a public tender. Public tendering
will consist of two steps:
• step 1 – stating the interest to invest in a formal letter of intent
to buty shares,
• step 2 – bid invitation will be sent to companies/individuals that
expressed interest in buying shares.
Objective:
To expand current business activities by investing in modernisation of
existing facilities and construction of new facilities and amenities, raising
service quality and introducing modern destination management practices.
COMPANY
Vranjica Belvedere is a joint stock company for hospitality and tourism, specialised in accommodation and hospitality services.
The Company’s facilities are solely comprised of 66 fully equipped apartments and an auto camp, with a total of 450 camping
places, covering an area of 10 hectares.
Besides accommodation capacities, the Company has numerous sports facilities, with the potential to become a leading destination for sports and active holidays. A 2 km seaside promenade connects the camping site and apartments with the Medena
settlement and old fishing village of Seget.
Vranjica Belvedere is situated in the middle of Dalmatia, 8 km from Split International Airport and 14 km from Highway Zagreb
– Split. There are several marinas in near proximity: ACI Trogir, ACI Split, Agana and Frapa, with a total of 1,747 berths.
SALE
Shares on sale: 44,953 (53.99% of share capital)
Average price on stock market: non-listed company
FINANCIAL DATA, in EUR
Year
Operating revenues
2009
2010
2011
829,002
895,715
968,579
Operating expenses
721,359
740,290
782,259
EBIT
107,643
155,425
186,320
EBITDA
295,620
346,736
388,896
Net income
82,137
(183,140)
(200,805)
Total assets
3,308,743
3,411,214
3,595,235
Total liabilities
2,950,813
4,600,197
5,098,247
11
11
11
Number of employees
Agency for Investments and Competitiveness, Ulica grada Vukovara 78, 10 000 Zagreb, Croatia
DISCLAIMER: Information contained in this document has been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give short information
about companies and/or investment possibilities to potential investors.The profile is for information purposes only. No responsibility or liability is accepted for the information in this document.
REAL ESTATE PORTFOLIO
Villas:
• Villas (***): 4 and 6 levels, 66 accommodation units, fully equipped,
built in 1988.
Auto camp:
• Auto camp (***): the total number is 450 camp units, land area 10
hectares, built in 1982.
Additional facilities:
• Restaurant (capacity 100 seats), pizzeria (80 seats), beach bar,
• Supermarket.
Sports and recreation facilities:
• Sports and recreation facilities: tennis courts, table tennis, mini
golf, football, handball, basketball and volleyball fields.
Area:
• Total facility area: 31,727.77 m2.
SPLIT-DALMATIA COUNTY INFORMATION
Population: 455,242
GDP per capita: 7,952 EUR
Unemployment rate: 24.0%
Average gross monthly salary: 961 EUR
Average gross salary in the sector (tourism): 878 EUR
The Split-Dalmatia County encompasses the territory of the historical region of Dalmatia, and is easily accessible via Highway
Zagreb-Split and Split International Airport.
The most important economic activity is tourism. There is a total of 117 hotels (2 five-star and 39 four-star hotels, while
the remaining 76 are three- or two-star). In addition to hotels, accommodation is provided in apart-hotels, tourist resorts,
tourist apartments and auto camps. The overall accommodation capacity provided is approximately 13,000 beds. There are
10 marinas (4 on the islands and 6 on the mainland) with a total of 1,814 berths.
The present international hotel chains in Split include Le Meridien Lav and Hotel Hilton Marjan which is planned for opening.
The County’s tourist potential includes: a rich heritage and cultural offer, catholic pilgrimage destinations, active and sport
holidays and health tourism. There are UNESCO heritage sites in Split (Diocletian Palace) and Trogir; catholic pilgrimage
destinations (Sinj, Vepric and vicinity to famous Medjugorje); rafting on the River Cetina in Omiš area and hiking, walking and
cycling paths on mountains Marjan and Biokovo.
A large number of high schools offer education in the hospitality and catering sector, while the Split University provides
undergraduate and graduate programs in tourism.
PRIVATISATION PROCEDURE
After submitting a formal letter of intent, receiving a bid invitation and signing the NDA the potential investor could participate
in due diligence procedure.
Upon bid submission the best bidder will be selected based on tender criteria.
CONTACTS:
Agency for Investments and Competitiveness (AIK), www.aik-invest.hr, e-mail: [email protected]
Agency for State Property Management (AUDIO), www.audio.hr, e-mail: [email protected]
Agency for Investments and Competitiveness, Ulica grada Vukovara 78, 10 000 Zagreb, Croatia
DISCLAIMER: Information contained in this document has been provided by Agency for Investments and Competitiveness of the Republic of Croatia. Purpose of this document is to give short information
about companies and/or investment possibilities to potential investors.The profile is for information purposes only. No responsibility or liability is accepted for the information in this document.