For the eighth time the state owned hotel chain, Hotel Maestral, has been put up for sale. The Centre for Reconstruction and Sales (CERP) have announced the public sale of 355.520 shares in the Hotel Maestral company for a total nominal price of 71 million Kuna. This amount of shares makes up 68.9 percent of the shares in the Dubrovnik hotel chain.
CERP are calling for interested parties to send a letter of intent for the purchase of the shares by the 9th of March 2018.
Hotel Maestral consists of five hotels in the Lapad Bay area of Dubrovnik. This last remaining state owned hotel chain in Dubrovnik has been up sale for the past few years but so far every deal has fallen through. The current management of the company are even considering putting together a management buy-out package for this latest sale.