Project Kupari

PROJECT KUPARI

Project Kupari, Kupari

POTENTIAL TRANSACTION: The main goal of this potential transaction is to contribute The project is on one of the most attractive locations in to further development of high-end tourism in Dubrovnik- the region which covers a land area of 14 hectares Neretva County through the completion of the state foreseen for building/reconstruction of hotel owned real estate project Kupari. accommodation capacities with approximately 1,500 beds. OBJECTIVE: To develop the Project by investing in the construction of a new tourist resort, including new facilities and amenities, and introducing modern destination management practices. TRANSACTION MODEL: January 16th - call for expressions of interest (dur. 30 days) March 2014 - the international invitation to tender in order to select the best tenderer for contracting the rights to build and usufruct. CURRENT STATUS OF THE REAL ESTATE INCLUDED IN THE PROJECT: The Kupari Tourist Complex is a former military resort, Today a part of the resort (Kupari I) includes five non- situated in the village Kupari, near the Old City of operating hotels. The total accommodation capacity of Dubrovnik (11 km) and Dubrovnik International Airport all five hotels, situated near the waterline, was 1,626 (16 km). beds. At the beginning of the 1990s the whole complex was All facilities are in a very poor condition and need destroyed and no investments have been made in significant reconstruction or rebuilding. reconstruction of existing or building new capacities since.

PORTFOLIO OF EXISTING FACILITIES:  Grand Hotel: built in 1920, renovated in 1979, with a  Goričina II Hotel: built in 1980, with 352 beds, net 2 total of 139 beds and net developed area of 6,102 m . developed area of 12,282 m2, KIG 0.44 and KIS 1.19 Allowed construction density (KIG) is 0.20 while  Pelegrin Hotel: built in 1966, with 419 beds, net allowed construction efficiency (KIS) is 0.40 developed area of 7,346 m2, KIG 0.49 and KIS 1.32  Goričina I Hotel: built in 1965, with 162 beds, net  Kupari Hotel: 554 beds, net developed area of 2 developed area of 2,140 m , KIG 0.44 and KIS 1.19 19,894 m2 KIG 0.30 and KIS 0.96.

Agency for Investments and Competitiveness , www.aik-invest.hr, e-mail: [email protected]; Mr. Damir Novinić, Managing Director, e-mail: [email protected] State Office for Management of State-owned Assets (DUUDI), www.duudi.hr, e-mail: [email protected] Ministry of Tourism, www.mint.hr, e-mail: [email protected]

Project Kupari, Kupari PROJECT LOCATION: DUBROVNIK– NERETVA COUNTY Dubrovnik-Neretva County comprises 5 cities and 17 municipalities. The County includes smaller islands covered in thick Mediterranean vegetation and forests, smaller settlements and agricultural land (olive groves and vineyards).

The main characteristic of the County’s economy is the predominance of tertiary services with tourism and hospitality industries and maritime shipping as main activities. The region also has significant gricultural potential in the area of the Neretva River Delta Valley and in the Pelješac Peninsula known for the active production of high quality wines. The potential for high-end tourism has already been The County is very well connected by Dubrovnik identified by international hotel chains (Hilton, International Airport, close proximity to the modern A1 Split Radisson Blue, Rixos, Uzel Holding, Adriatic Luxury -Zagreb Highway, the deep sea port of Dubrovnik suitable Hotels and Luksic Group) present in Dubrovnik. for cruisers as well as an important cargo port Ploče gateway of the future Pan-European transportation corridor Dubrovnik’s famous medieval old town (listed on Vc). UNESCO’s world heritage list since 1979) along with the island of Korčula has positioned Dubrovnik and the Tourism is constantly developing as a strategic industry for County as a high-end European and global tourist the County, through investments in new and existing hotels, destination (New York Times shortlisted Dubrovnik sports and infrastructure capacities (14 five-star hotels and among 45 places to visit in 2012). 17 four-star hotels, two golf resorts planned within 35 km, a new investment in ACI Marina Slano). Population (2011): 122,783 GDP per capita (2010): 10,457 € Unemployment rate (2011): 18.8% Average gross salary: 994 € Average gross salary in the sector (tourism): 984 €

Project Kupari, Kupari

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Project Kupari, Kupari

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PROJECT PINETA

Project Pineta, Fažana

PROJECT DESCRIPTION: Brijuni Rivijera Ltd. is a development company founded in Selected Brijuni Rivijera locations are situated in the 2003 by public authorities (The Republic of Croatia and south-western part of the Istrian coast, on the ground of Istria County) with the purpose to develop and implement the Municipality of Fažana in the North and the City of the project of Brijuni Rivijera, based on the Master Plan of Pula in the South. The Pineta site is situated just in front Istrian tourism of Brijuni Rivijera area. It is planned to be of the Brijuni Islands, half a kilometre near Fažana. developed on three unique locations: Pineta, Hidrobaza The total surface of the Pineta location is 50 hectares. and Sv. Katarina and Monumenti, which should be profiled The planned building surface is 11.4 hectares, and the as the highest category tourism destination. remaining 38.6 hectares include an area for sports and recreation and the beach in a pine forest overlooking the Brijuni Islands. TRANSACTION MODEL: International invitation to tender to select the best tenderer as an investor will be announced Autum 2014

PLANNED CAPACITIES: According to the Urban Development Plan of the ADDITIONAL FACILITIES: Municipality of Fažana, the available area is determined  Additional food and beverage facilities for the following proposed facilities:  Wellness centre, swimming pool and tennis courts HOTEL:  Promenade with a central square. Hotel 4 – 5 *, with a total of 650 beds.

Project Pineta, Fažana PROJECT LOCATION: ISTRIA COUNTY Istria County is located on the largest Croatian peninsula of Istria, on an area of 2,820 km2 and has excellent transport connections with main European motorways (Istrian “Y” motorway connects Istria with highways in Slovenia, Italy and Austria) and by air (International Airport in Pula).

Istria is one of the most developed Croatian regions with dominant industry (shipbuilding, production of building materials, tobacco products, furniture, glass and electrical machinery and parts for the automotive industry), tourism (31.6% of all arrivals and 25.3% of all overnight stays in Croatia in 2011) and trade sector. In recent years, a great attention was paid to the revitalization of agriculture marinas (6.7%). Main markets in terms of overnight (especially olive growing and organic food production) and stays are Germany (28.7%), Slovenia (14.2%), Austria the related development of enogastronomic tourism (11.0%) and Italy (10.6%). (autochthonous wines Malvasia, Teran, highly esteemed white truffle) and agro-tourism, particularly in the Strong domestic brands (Istraturist Umag, Maistra and hinterland of Istria, which is recognized as the “Tuscany of Valamar) prevail but international brands such as the Croatia”. Kempinski Hotel and Sol Melia are present as well, primarily as management companies. There is a very long tradition of tourism that has been developing from the period of the Roman Empire through The wide and diversified range of facilities enables the the Austro-Hungarian Empire (when tourist centres Umag, development of various kinds of tourism: sports Poreč, Rovinj, Pula, Rabac, including the Brijuni Islands were tourism (currently 2 out of 4 golf courses in Croatia are strongly developed). In the past decade, intensive in Istria - Umag and Brijuni, the construction of a third investments (760 million EUR) in a construction of new and golf project Marlera has commenced, and the reconstruction of existing, primarily high-class hotel facilities International ATP tournament holds place in Umag), were made resulting in a significant increase of five-star cultural tourism (Motovun Film Festival, performances hotels (total of 4) and four-star hotels (total of 26). by world-renowned artists in Vespasian’s Roman amphitheatre-Pula Arena, Theatre Ulysses), nautical, In the structure of accommodation, from a total of 250,300 convention, hunting, fishing, and diving tourism. units, camps are the most represented (44.4%), followed by private accommodation (22.6%), apartments and rural Further development of tourism in this region will be tourism (12.8%), hotels (11.2%) and accommodation in ensured with new projects, notably the Brijuni Riviera which is to be developed on three locations (Pineta, Hidrobaza and Sv. Katarina i Monumenti on total land area of 114 ha), and should additionally profile the County as a tourist destination with a wide range of capacities of the highest category.

Population (2011): 208,440 GDP per capita (2010): 12,897 € Unemployment rate (2011): 11.5% Average gross salary: 997 € Average gross salary in the sector (tourism): 1,142 €

PROJECT VELIKI BRIJUN

Project Veliki Brijun, Brijuni Islands

PROJECT DESCRIPTION: The Brijuni National Park is a Croatian national park in the 100% ownership of the Republic of Croatia. It is a project conducted jointly by the Ministry of Environmental and Nature Protection and the Ministry of Tourism in cooperation with the Brijuni National Park. The Project envisages large infrastructural interventions and complete redesign of the tourism offer and its additional facilities. Its estimated value is 1.5 to 2 billion HRK. In this respect it is paramount to emphasise in advance that high environmental protection criteria have been set out, especially in regard to the future interventions which are to be executed on the island. Among others, nonew construction on the locations where the foundations have not been erected previously shall be allowed, while the existing facilities may be enlarged by 30 percent maximum. The future concessioner shall manage the island; however the environmental protection shall remain with the professionals, i.e. with the Brijuni National Park.

TRANSACTION MODEL: The groups of candidates or tenderers, the Horwath i Horwath Consulting Ltd. and Raiffeisen Centrobank AG from Vienna, are the selected consultants that shall cooperate with the Ministry of Environmental and Nature Protection in order to identify the investors in the tourism facilities on the island of Veliki Brijun. The invitation to tender shall be announced in February 2014.

CURRENT CAPACITIES: The capacities of the Brijuni National Park comprise 156 rooms with 304 tourist beds.

Tourist capacities include the Neptun Istra Hotel and the Karmen Hotel; the Primorka Villa, the Lovorka Villa and the Dubravka Villa; as well as houses for rental, the Fažanka House and the Magnolija House.

Project Veliki Brijun, Brijuni Islands PROJECT LOCATION: ISTRIA COUNTY Istria County is located on the largest Croatian peninsula of Istria, on an area of 2,820 km2 and has excellent transport connections with main European motorways (Istrian “Y” motorway connects Istria with highways in Slovenia, Italy and Austria) and by air (International Airport in Pula).

Population (2011): 208,440 GDP per capita (2010): 12,897 € Unemployment rate (2011): 11.5% Average gross salary: 997 € Average gross salary in the sector (tourism): 1,142 €

PROJECT MUZIL

Project Muzil, Pula

PLANNED CAPACITIES:  Capacity: 2,500 in hotels and villas  several hundred berths  18-hole golf course  an extremely valuable natural resource, planned as a space open to all citizens  in a sustainable manner, integration of public facilities, ecological parks, arts, sports, recreation, golf, tourism and catering  International invitation to tender to select the best tenderer as an investor will be announced Winter 2014

Project Muzil, Pula PROJECT LOCATION: ISTRIA COUNTY Istria County is located on the largest Croatian peninsula of Istria, on an area of 2,820 km2 and has excellent transport connections with main European motorways (Istrian “Y” motorway connects Istria with highways in Slovenia, Italy and Austria) and by air (International Airport in Pula).

Population (2011): 208,440 GDP per capita (2010): 12,897 € Unemployment rate (2011): 11.5% Average gross salary: 997 € Average gross salary in the sector (tourism): 1,142 €

PROJECT DUILOVO

Project Duilovo, Split

PROJECT DESCRIPTION: Former military property, owned by the State, currently under menagement of the Ministry of defense.

According to the Urban Development Plan of the city of Split the property is defined as a zone of tourism, sports and recreation.

ESTIMATED PROJECT VALUE: 50-70 mil. €

CURRENT CAPACITIES:  Hotel Zagreb - 321 units with 727 beds  Apartment village - 60 units with 160 beds  The built surface is on 30,000 m2  30,000 m2 remaining surface

Project Duilovo, Split PROJECT LOCATION: SPLIT– DALMATIA COUNTY Split-Dalmatia County encompasses the territory of the historical region of Dalmatia, and is easily accessible via Zagreb-Split Highway 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 camps. The overall accommodation capacity provided is approximately 13,000 beds. There are 10 marinas (4 on islands and 6 on the mainland) with a total of 1,814 berths. The County’s tourist potential includes: a rich heritage The present international hotel chains in Split include the Le and cultural offer, catholic pilgrimage destinations, Meridien Lav and the Hilton Hotel Marjan which is planned active and sports holidays and health tourism. There for opening. are UNESCO heritage sites in Split (Diocletian Palace) and Trogir; catholic pilgrimage destinations (Sinj, Vepric and vicinity to famous Medjugorje); rafting on the River Population (2011): 455,242 Cetina in Omiš area, and hiking, walking and cycling GDP per capita (2010): 8,072 € paths on mountains Marjan and Biokovo.

Unemployment rate (2011): 24.0% A large number of high schools offer education in the Average gross salary: 961 € hospitality and catering sector, while the Split Average gross salary in the sector (tourism): 878 € University provides undergraduate and graduate programs in tourism.

PRIVATISATION PROCES IN 2014

TRANSACTION: The Republic of Croatia through the state agency, Center STEP 1 – stating the interest to invest in a formal letter of for the Restructuring and Sale (CERP), has the goal to intent to buy shares, submitted to CERP, Ministry of finish the privatisation process of its tourism portfolio Tourism and the Agency for Investments and (hotel companies owned and partially owned by the Competitiveness. Republic of Croatia). STEP 2 – invitation to participate in the privatization sent PRIVATISATION MODEL: There are two possible solely to companies/individuals that, in the first step, models of have expressed interest in buying shares. privatization: public tender and public auction and both of them, upon the public announcement, are performed in two steps:

COMPANIES:

Nominal Available State Equity capital value of Portfolio No. Company Location in € shares in € € % 1. HOTELI PLAT Plc. Plat 7,890,200 40 7,297,600 92.49 HOTELI MAESTRAL 2. Dubrovnik 13,752,533 27 9,386,320 68.24 Plc. HOTELI MAKARSKA 3. Makarska 29,852,533 27 12,354,800 41.39 Plc. 4. IMPERIAL Plc. Rab 33,912,267 53 16,980,160 50.07 5. JADRAN Plc. Crikvenica 62,172,301 1,33 54,480,581 87,61

Hoteli Plat Plc., Dubrovnik

COMPANY: Hoteli Plat Plc. is situated in the small village of Plat, 12 km Built in 1970’s, partly renewed in 2000, the Company still eastern of the City of Dubrovnik and 6 km from Dubrovnik has parts of facilities that are damaged. International Airport. The Company hosts mainly tourists form abroad (over The Company with its total size of 77,698m2 has exquisite 95% of all guests) with dominant participations of guests potential for further development as an independent and frome France (47.5%), the UK (5.0%), Bulgaria (4.8%) etc. self– contained hotel resort. The complex is located on the coastline with three sandy beaches, surrounded by thick Mediterranean vegetation. All rooms and apartments have sea-view balconies.

REAL ESTATE PORTFOLIO: OPERATING FACILITIES: NON- OPERATING FACILITIES:  Orphee Hotel 3*- 85 units, renovated in 1999  Ambassador Hotel- 302 units  6 Villas 3*- 151 units  Two Pavilions- 426 units

ADITIONAL FACILITES: SPORTS AND RECREATION FACILITIES: Tavern, pool bar, aperitiv bar, bistro, souvenir shop and two outdoor swimming pools, two tennis courts hairdresser’s salon AREA: Total facility area: 36,052 m2 Net land area: 77,698 m2

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.

Hoteli Plat Plc., Dubrovnik PROJECT LOCATION: DUBROVNIK– NERETVA COUNTY Dubrovnik-Neretva County comprises 5 cities and 17 municipalities. The County includes smaller islands covered in thick Mediterranean vegetation and forests, smaller settlements and agricultural land (olive groves and vineyards).

Hoteli Maestral Plc, Dubrovnik

COMPANY: Hoteli Maestral Plc. is a hotel company in Dubrovnik The most important source markets are the United thatowns and operates five hotels with a unique location Kingdom, France and Scandinavian countries, followed alongone street in Lapad Bay. The facilities have an by Russia, Croatia and Germany. excellent waterfront position (or in its vicinity) and are There is a tendency of constant growth of guests from easy to reachfrom the Old Town of Dubrovnik (3.5 km) and overseas markets (the USA, Canada, Australia and New DubrovnikInternational Airport (24 km). Zealand). The hotels were built between 1935 and 1965 and some of them were renovated during the 1990s (Komodor and Splendid) and 2000s (Uvala). Adriatic and Vis were partially renovated. The best accommodation is offered in the four star Uvala Hotel (renovated in 2003 and 2004), known for its fashionably designed and spacious Wellness & SPA centre of 580 m2.

REAL ESTATE PORTFOLIO: HOTELS: BUSINESS CENTRE:  Uvala Hotel (****): 4 levels, 51 accommodation Uvala Hotel has two meetings rooms: The Solad Meeting 2 units, size 4,941 m , built in 1967, renovated Room and The Perpera Meeting Room with 80 seats. 2003/2004, allowed construction density (KIG) 0.36, allowed construction efficiency (KIS) 1.06, SPORTS AND RECREATION FACILITIES:  Splendid Hotel (***): 3 levels, 59 accommodation Various entertainment and sports facilities, including 2 units, size 2,733 m , built 1935 and 1964, renovated indoor and outdoor swimming pools, fitness club, tennis in 1997, KIG 0.12, KIS 0.27, courts, snack bars and beach restaurants.  Komodor Hotel (***): 4 levels, 63 accommodation 2 units, size 2,489 m , built in 1938, renovated in 1998, AREA: KIG 0.69, KIS 1.97, Total facility area: 23,753 m2  Vis Hotel (***): 3 levels, 151 accommodation units, Net land area: 100,885 m2. size 5,818 m2, constructed in 1935, 1956 and 1986, partly reconstructed in 2003-2005, KIG 0.33, KIS 0.90,  Adriatic Hotel (**): 3 levels, 158 accommodation units, size 7,510 m2, constructed in 1962, 1963 and 1967, KIG 0.27, KIS 1.01.

Hoteli Maestral Plc, Dubrovnik PROJECT LOCATION: DUBROVNIK– NERETVA COUNTY Dubrovnik-Neretva County comprises 5 cities and 17 municipalities. The County includes smaller islands covered in thick Mediterranean vegetation and forests, smaller settlements and agricultural land (olive groves and vineyards).

Hoteli Makarska Plc., Makarska

COMPANY: Hoteli Makarska Plc. is a tourist-hospitality company, The Meteor Hotel has several convention facilities, established in 1952, offering accommodation and which can improve its position in the M.I.C.E. segment hospitality services in its three hotels near the beach. The with appropriate marketing efforts. Company is located in the renowned tourist destination Makarska Riviera (in Central Dalmatia). With a diversified The location provides endless possibilities for active tourist affer the Company has established a prominent holidays (hiking/walking and cycling paths on Biokovo position on international markets (approximately 90% of mountain); cultural and heritage sightseeing, catholic guests are from pilgrimage tourism (Medjugorje, Vepric), and is easily abroad). accessible (Zagreb-Split Highway, Split International In addition to the existing offer, there is great potential to Airport). There are several marinas in the wider develop the Rivijera Hotel into a modern sports and Makarska area, as well as a small harbour in front of the recreation complex. The Rivijera complex already includes Company’s Dalmacija Hotel. the largest tennis centre in Makarska that has occasionally hosted international tennis tournaments.

REAL ESTATE PORTFOLIO: HOTELS: CONVENTION CENTRE:  Meteor Hotel (****): 11 levels, 277 accommodation Four conference halls in the Meteor Hotel. 2 units, size 23,391 m , built in 1983, partly renovated 2006-2011, SPORTS AND RECREATION FACILITIES:  Dalmacija Hotel (***): 11 levels, 190 accommodation Tennis centre, adjacent to the Rivijera complex, with 8 2 units, size 13,423 m , built in 1970, renovated in outdoor and 2 indoor tennis courts of total 7,808 m2, two 2004/2005. outdoor swimming pools, a gym and a wellness centre in the Meteor Hotel. TOURIST RESORTS/COMPLEXES: Rivijera Hotel Complex (**): 3 levels, consisting of nine AREA: 2 pavilions, 258 accommodation units, size 13,997 m , Total facility area: 52,007 m2, built in 1962, renovated and expanded several times. Net land area: 95,368 m2.

Hoteli Makarska Plc., Makarska PROJECT LOCATION: SPLIT– DALMATIA COUNTY Split-Dalmatia County encompasses the territory of the historical region of Dalmatia, and is easily accessible via Zagreb-Split Highway 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 camps. The overall accommodation capacity provided is approximately 13,000 beds. There are 10 marinas (4 on islands and 6 on the mainland) with a total of 1,814 berths. The County’s tourist potential includes: a rich heritage The present international hotel chains in Split include the Le and cultural offer, catholic pilgrimage destinations, Meridien Lav and the Hilton Hotel Marjan which is planned active and sports holidays and health tourism. There for opening. 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.

Population (2011): 455,242 GDP per capita (2010): 8,072 € Unemployment rate (2011): 24.0% Average gross salary: 961 € Average gross salary in the sector (tourism): 878 €

Imperial Plc., Rab

COMPANY: Imperial Plc. is the main hotel company on the island of The guests are predominantly from abroad (more than Rab. It has been operating for almost 50 years. The 90% in the last three years), mostly European countries Company is firmly positioned as the leader in the hotel (Germany, Austria, Slovenia, The Czech Republic, Italy business on the island. Its diverse real estate portfolio and Hungary). enables it to have a broad spectrum of goals for strategic development. Moreover, the Company has made significant investments to upgrade its service and value.

The group is comprised of four hotels, two tourist resorts, two auto camps, as well as several restaurants and smaller catering and other facilities. All units are quite near the beach and the beautiful Old City of Rab. One of the most beautiful beaches in the Adriatic, the “Paradise Beach” is also located nearby. Moreover, the Company’s site benefits from Rab’s rich horticultural heritage ideally positioned for health tourism and active holidays.

REAL ESTATE PORTFOLIO: HOTELS: CAMPS:  Grand Hotel Imperial (****): 5 levels, 136 2 camps (AC San Marino and AC Padova III) with a total accommodation units, built in 1914, renovated in of 5,000 available places. 2010,  Carolina Hotel (****): 5 levels, 142 accommodation CONVENTION CENTRE: units, built in 1971, renovated in 2009, There are congress facilities in the Padova, Grand Hotel  Padova Hotel (***): 6 levels, 175 accommodation Imperial and Carolina Hotels. Additionally, there is a new units, built in 1986, renovated in 2009, congress centre in the tourist settlement San Marino with  Eva Hotel (**): 5 levels, 196 accommodation units, 120 seats. built in 1978. VILLAS: SPORTS AND RECREATION FACILITIES: Carolina Villas: 10 villas, 38 accommodation units, built 19 tennis courts, two wellness centres, sports centres. in 1971, renovated in 2002.

TOURIST RESORTS: AREA:  San Marino: 495 accommodation units, comprised of Total facility area: 98,620 m2 5 hotels (3 to 5 levels) situated on the famous Net land area: 250,735 m2 “Paradise Beach“, built in 1967, renovated in period 2004-2012,  Suha Punta: small detached houses and bungalows with 88 accommodation units, built 1962-1968, renovated 2009- 2012.

Imperial Plc., Rab PROJECT LOCATION: PRIMORJE– GORSKI KOTAR COUNTY Primorje-Gorski Kotar County is situated between Slovenia in the North and the Adriatic in the South. Its geography comprises woodland mountains, seashore and islands.

Primorje-Gorski Kotar County is the birthplace of Croatian tourism. A holiday choice for Habsburg emperors, it is proud of the towns of Opatija and Lovran that have offered high- end and health tourism for more than a century now.

The County’s education policies mirror its historic ties with tourism and especially nautical tourism. The Faculty of Tourism and Hospitality Management in Opatija is the only Croatian university fully dedicated to the education of specialised tourism workforce. In addition, there are two institutions of secondary education dedicated to tourism or hospitality education.

The County is also especially attractive for nautical tourism. There are 8 marinas with a total of 2,993 berths. The County is well-connected with continental Croatia as well as the neighboring countries. Rijeka is also a major ferry port with regular connections to islands and the south of the Adriatic. There are several airports within a 200 km radius (Pula, Rijeka, Zadar, Zagreb, Split, Trst, Venecija, Ljubljana).

Population (2011): 296,123 GDP per capita (2010): 12,343 € Unemployment rate (2011): 15.7% Average gross salary: 1,008 € Average gross salary in the sector (tourism): 868 €

Jadran Plc., Crikvenica

COMPANY: The real development of Crikvenica Riviera started in Other companies in the area merged with the Jadran the 60s, when Jadran JCT enthusiasticaly renovated the Company, so the company added hotels in Novi devastated private hotels and villas and employed local Vinodolski and Povile (today, hotels on the Novi people. Development and modernisation of the hotel Vinodolski Riviera), and hotels in Selce (Varaždin, facilities started and hotels Crikvenica, Esplanade, Esperanto, Slaven, Auto camp Selce). A new Ad Turres Therapia and Villa DAnica were established as hotel resort with the hotel Omorika (1500 beds) was built in companies. These companies were the backbone of Crikvenica. Resort Kačjak was also built in Dramalj, as well Crikvenica’s tourism from1950 until the merger of as restaurants Lanterna and Mendula, which were these companies into one company named the situated on the seafront right in front of the hotels. CAtering and Tourism Company Jadran. The long history of this company, its transformation after 1993 and selling of some of its assets after 2003, in the new Croatian state, represent 55 long years of tourism tradition, in the hotel industry, on the Crikvenica Riviera .

Today, the company is operating as a Joint Stock Company with 10 profit centres, that is, 9 hotels and resorts with over 2,500 beds and 2 camps with 1700 places. All of the objects are positioned on the seafront and unite the best of tradition, experience and hospitality and offer you everything that is needed for an ideal holiday.

REAL ESTATE PORTFOLIO: HOTELS: TOURIST RESORT KAČJAK:  Kaštel Hotel 3*, 4 floors, 74 accommodation units, Bungalows, 53 rooms opend in 1988  Esplanade Hotel 3*, 4 floors, 64 accommodation CAMPS: units, built in the 1930s  Selce, 40 plots  Omorika Hotel 2*, 6 floors, 115 accommodation  Kačjak, 160 guests units, built in 1973, renovated 1998  Zagreb Hotel 2*, 4 floors, 40 accommodtion units CONVENTIONE CENTRE IN HOTELS:  International Hotel 2*, 3 floors, 53 accommodation Omorika, Varaždin, Esplanade units, built in 1968, renovated in 1986  Varaždin Hotel 2*, 8 floors, 175 accommodation units, built in 1971 and renovated in 2008

HOTEL/PAVILIONS:  Ad Turres, 67 rooms  Slaven, 209 rooms

Jadran Plc., Crikvenica PROJECT LOCATION: PRIMORJE– GORSKI KOTAR COUNTY Primorje-Gorski Kotar County is situated between Slovenia in the North and the Adriatic in the South. Its geography comprises woodland mountains, seashore and islands.

Population (2011): 296,123 GDP per capita (2010): 12,343 € Unemployment rate (2011): 15.7% Average gross salary: 1,008 € Average gross salary in the sector (tourism): 868 €

HOC Bjelolasica Ltd., Jasenak

COMPANY: The company is majority-owned by the Republic of The tourist and hospitality services are performed of Croatia (76.03%) and its facilities are currently managed three locations: in the tourist village Bjelolasica, Begovo by Club Adriatic Ltd. (also owned by the Republic of Razdolje (Jastreb hotel) and town Ogulin (restaurant). The Croatia). The main parts of Company’s business tourist village Bjelolasica is located 27 km from Ogulin. It activities are commercial activities (retail, tourist and was partly renovated in 1998, and consists of hospitality activities), while the other part consists of accommodation capacities and numerous sport facilities. activities on Bjelolasica and Begovo Razdolje ski resort The Bjelolasica ski resort consists of three double and utility services (heating, maintenance of water chairlifts and eight ski slopes. However, the central supply system and wastewater treatment). building, used as a catering facility, was destroyed in a fire in 2011. To put the tourist village in full use, a new catering facility needs to be constructed, while some pavilions also require reconstruction and/or adaption. The Jastreb Hotel is located in Begovo Razdolje, the only settlement in Croatia above 1,000 meters above the sea level, 55 km from the City of Rijeka and 115 km from Zagreb. The Sabljaci Restaurant is situated on the Sabljaci Lake, 4 km from Ogulin. REAL ESTATE PORTFOLIO: BJELOLASICA TOURIST VILLAGE: JASTERB HOTEL, 3* has 43 rooms, a restaurant with 90 8 pavilions, of which HOC Bjelolasica ownes five– Kula, seats, an aperitif bar with 30 seats and a summer terrace. Klek and Lasice (100% owned) and Dobra and Vrelo Sports facilities include a ski-lift and a slope which has not (majority owned). The total accommodation capacity been in use for several years. includes 120 rooms. In addition to other rooms, Vrelo pavilion contains ten rooms adjusted for disabled SABLJACI RESTAURANT: persons, while Lasica pavilion has a children’s didactic– Capacity of 250 indoor and 150 outdoor seats, its own sport workshop. parking space, as well as sand volleyball playground.

HOC Bjelolasica Ltd., Jasenak PROJECT LOCATION: PRIMORJE– GORSKI KOTAR COUNTY The Karlovac County is located in central Croatia. It is a The County has rich historical heratage, from traffic link between continental and coastal Croatia, and also prehistoric ruins of Japoda and Kolapojan tribes, the hub of the modern highway connecting Central Europe ancent Roman remains, Croatian medieval to the Adriatic Sea. In the West it borders with the Republic fortresses, to monasteries and churches, roads and of Slovenia and on the East with the Republic of Bosnia and bridges. Herzegovina. It combines a number of natural beauties: mountain peaks The most important industrial branches are Kapele on the South, wooded hillsides of Petrova and processing industry, retail and construction. Within Žumberak hills in the South- East and North; the central processing industry, the most represented sectors green karst plateau of Kordun, though which four rivers are food and beverages production, metal (Kupa, Mrežnica, Korana and Dobra) flow and the fruitful processing, equipment and machinery production, valley of Pokup in the North- East. This part of Croatia is the production of rubber and plastic, textile and known for its well- preserved and untouched nature. wood industry.

Population (2011): 128,749 GDP per capita (2010): 7,404 € Unemployment rate (2011): 25,0 % Average gross salary: 962 € Average gross salary in the sector (tourism): 733 €

Modra Špilja Plc., Komiža

COMPANY: Modra Špilja Plc. has been operating in the hotel and It is important to note that the Company has an excellent hospitality industry in Komiža for 50 years. position on the island of Vis which has been recognised Apart from the Biševo Hotel, its core accommodation as the most popular sailing destination on the Adriatic in property, Modra Špilja Plc. also owns a tourist agency recent years. The island is also renowned for its preserved and three restaurants, one of which is on the natural beauties having been closed to the public for neighbouring island of Biševo. Foreign and domestic years because of its status as an army base. guests have an equal share in the guest structure.

REAL ESTATE PORTFOLIO: HOTELS: OTHER REAL ESTATE:  Biševo Hotel (**): 6 levels, 131 accommodation units The Komiža Tourist Agency and three restaurants: two on in three sections -(B old section, - B new section, C island of Vis and one on island of Biševo. section), total size 7,189.2 m2. All rooms have central heating and are equipped with phones, satellite TV, AREA: Internet connection and fridges. Total facility area: 7,383 m2 The “B’’ Section was built in 1968 and completely Net land area: 15,222 m2 renovated in 1998. The “newer” section was built in Land area available for further construction: 6,500 m2, 1980 and the most recent renovation was in 2008. allowed construction density: 0.50, allowed construction efficiency 0.20.

Modra Špilja Plc., Komiža PROJECT LOCATION: SPLIT– DALMATIA COUNTY Split-Dalmatia County encompasses the territory of the historical region of Dalmatia, and is easily accessible via Zagreb-Split Highway and Split International Airport.

The present international hotel chains in Split include the Le Meridien Lav and the Hilton Hotel Marjan which is planned The County’s tourist potential includes: a rich heritage for opening. and cultural offer, catholic pilgrimage destinations, active and sports 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 Population (2011): 455,242 paths on mountains Marjan and Biokovo. GDP per capita (2010): 8,072 € Unemployment rate (2011): 24.0% A large number of high schools offer education in the Average gross salary: 961 € hospitality and catering sector, while the Split University provides undergraduate and graduate Average gross salary in the sector (tourism): 878 € programs in tourism.