Karisma Hotels Adriatic Take Over Hotels Kolocep

Karisma Hotels Adriatic today purchased Hotels Kolocep for 36 million kuna.

 Marinko Benic Director of Karisma Hotels Adriatic told press, ”We are exceptionally pleased that Karisma Hotels Adriatic will become the owner of Hotels Kolocep, especially because this means a new start for the hotel which was threatened with bankruptcy. We will create a worthy tourist project with Kolocep which will be of great use to Croatian tourism and the economy as well as the local community.”

The total investment by Karisma Hotels Adriatic in Hotels Kolocep is 18.6 million Euros, of which 4.6 million relates to the purchase of 88% of shares in the company and 4.7 million relates to the payment of existing company debts. Nine million Euros is earmarked for the renovation, management and promotion of the hotels in the next year. In the first season alone the hotel is expected to reach an 83.5% capacity. Work on the hotels is expected to begin at the end of the summer season.