February the 1st, 2023 - A very welcome fifteen million euros is set to be poured into a Sunce Hotels investment as part of yet another such cycle. As things begin gearing up for the 2023 summer tourist season, it's a move that can't come too soon.

As Jadranka Dozan/Poslovni Dnevnik writes, Sunce Hotels (Hoteli) has taken yet another step towards the continuation of its investment cycle. At an assembly held recently, the proposal on recapitalisation was confirmed.

Along with the recalculation and adjustment of the share capital as part of the conversion to the euro (by reducing the nominal value of the share from 13.27 euros to 13 euros), the proposal to increase the share capital by slightly less than nine (8.86) million euros, from 92.88 million euros to 101.75 million euros was accepted.

This new increase will be implemented through the issue of new shares, which will be subscribed by the majority owner, the Arab Eagle Hills Real Estate, through its company in the City of Zagreb. Since the registration of new shares is planned at 22 euros per share, which is significantly above the "nominal value", 15 million euros of fresh capital will flow into the company through recapitalisation.

After about 45 million euros were invested last year, this will ensure financing for this year's planned investments. Sunce Hotels investments are already taking on a very firm shape, as the company has already announced the renovation of Hotel Afrodita in Tucepi on the mainland and of Hotel Bonaca in Bol on the island of Brac.

In addition to the above, there are also plans for several smaller operations within the new Sunce Hotels investment cycle to improve the overall offer and raise the quality of services provided in their other facilities. So far, it is not known whether Eagle Hills will also take over the state's stake in Brac Airport.

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July the 1st, 2022 - The well known Croatian Bluesun hotel chain which is based in Dalmatia has invested an enormous 45 million euros back into its impressive capacities, renovating approximately 800 rooms.

As Poslovni Dnevnik writes, summer is here and the height of the tourist season is rapidly approaching. As such, Bluesun Hotels & Resorts, one of the leading hotel chains in all of the Republic of Croatia, has invested more than 45 million euros in the renovation of six properties in its portfolio. The investment resulted in the renovation of almost 800 rooms in the Bluesun Hotel Elaphusa, Bluesun Hotel Borak, Bluesun Holiday Village Bonaca in Bol on the island of Brac, Bluesun Hotel Maestral, Bluesun Hotel Soline in Brela and Residence Kastelet in Tucepi.

The Bluesun hotel chain, with more than sixty hotels under its belt, points out that they managed to make the investment in less than half a year, in very challenging times and a during years marked not only by the coronavirus crisis, but also by rising prices owing to inflation and the ongoing horrendous war in Ukraine which broke out earlier this year following Russian invasion.

They also stated that when revamping the Maestral Hotel in Brela, they paid a lot of attention to the preservation of architecture, to the extent that they worked closely with conservators in order to avoid mismatching with the historical and emblematic typical Dalmatian architecture of the area.

All of the investment work, worth more than 45 million euros, was carried out by local construction companies, the Bluesun hotel chain made sure to note, saying they believed it was important to focus on local talent who best understood the environment in which the works are being carried out. Radnik from Krizevci, Kamgrad and Krekic-Avangard worked on the renovation of six of this company's hotels, while the main designer was the company Stabilnost, who also provided their expert supervision of the projects as they were carried out.

"With this investment, we're paying tribute to the people, the local economy, the community, history and the flawless Adriatic coast. We'd like to say a sincere thank you to the partners and our exceptional team who brought us to where we are today. It's amazing what we've achieved,'' said Mubarak Al-Khalifa, CEO.

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