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A Singapore investment fund wants to buy Liburnia Riviera Hotels

first_imgAs Poslovni dnevnik has learned, information has been leaked from the People’s Republic of Croatia that hotels majority owned by SN Holding Darko Ostoje want to buy an investment fund from Singapore, which owns about twenty hotels managed by the Four Seasons Hotels and Resorts chain. As it is pointed out in the financial report of LHR, in the first nine months of this year, a profit of HRK 20,2 million was realized, which is a big drop since the profit in the same period last year amounted to HRK 61 million. On the other hand, the mayor of Opatija, Ivo Dumić, sent a message on his Facebook page that he hopes to sell LRH soon. Photo: Remisens.comcenter_img Liburnia Ririvera Hotels informed the Zagreb Stock Exchange that the process of in-depth recording of the company’s operations is underway, by interested potential buyers of shares issued by Liburnia Riviera Hotels dd “Every big hotel house has to be a part of society and invest in the destination where it makes the most profit. In this way, both the hotel house and the destination progress. We have many good examples where hotel houses invest a lot in the better life of citizens, events and infrastructure in the city where they operate, and I will single out only the two largest companies, “Valamar” and “Blue Lagoon”. “Liburnia Riviera Hotels” have so far, unfortunately, behaved quite the opposite in Opatija and the entire Riviera. But I believe better days are coming. I hope that this house will soon be sold to real and responsible investors, which I am sure will bring a complete turnaround in such a business policy. Only in this way can Opatija become what we all want, a top year-round tourist center from which all our citizens will benefit. ” said Dumic. By the way, the City of Opatija owns 25 percent of LRH shares.last_img read more

Home market costs sit heavy on Kindred Group’s 2019 opening

first_img Share GiG lauds its ‘B2B makeover’ delivering Q2 growth August 11, 2020 StumbleUpon Submit Unibet backs #GoRacingGreen as lead racing charity  July 28, 2020 Related Articles Kindred marks fastest route to ‘normal trading’ as it delivers H1 growth July 24, 2020 Share Stockholm-listed Kindred Group Plc reports a tough opening to its 2019 trading, as the online gambling group undertakes a series of adjustments related to its home market of Sweden.Publishing its unaudited Q1 2019 trading update , Kindred maintains its strong group revenue momentum recording ‘Gross winnings’ of £224 million (Q1 2018: £208m),However  Swedish market costs have impacted metric performance – with EBITDA falling to £30.6 million (Q1 2018 £47.5m)Despite maintaining ‘all-time highs’ in customer sign-ups and activity (+1.6 million), Kindred properties would be forced to reward all Swedish customers with an additional player bonus, compliant with the terms of the market’s new licensing system.The regulatory requirement would see Kindred customer rewards expenditure increase by £6.6 million, with the group undertaking further Swedish costs with regards to £5 million paid for market duties combined with marketing costs of £3.8 million.Closing Q1 2019 trading, Kindred reports a profits-after-tax of £15 million (Q1 2018: £29m)“All-time high in active customers but, as expected, profits for the quarter significantly impacted by the new local licence in Sweden”  detailed Henrik Tjärnström, CEO of Kindred Group updating investors.“During the quarter we have had strong levels of activity across all markets and all-time highs in active customers and Sports betting turnover. This is the result of our continued investment in marketing, where focus has been in relation to responsible gambling in Sweden and football sponsorships in the UK.”last_img read more