The privatization of the last state hotel companies in Croatia - Dubrovnik's Hotel Maestral, Hotel Makarska and Crikvenica Adriatic, is expected to raise minimum of 458 million Kuna. There has been an unprecedented interest in the first round of the public tender with more than 40 letters of interest just for Hotel Maestral. 68.94 percent of the shares in Hotel Maestral are up for grabs and investors have shown great interest for these five hotels on the coastline in Lapad.
The nominal value of these shares in Hotel Maestral is 71.1 million Kuna, HRK 200 per share, and will they be offered for 114.27 million Kuna, or 321.42 Kuna per share. After thew first stage of the public tender, in which 40 investors showed an interest, the parties now have 30 days to submit a bid for Hotel Maestral. After many previous attempts to sell the last state owned hotel company in Dubrovnik it would seem at this early stage that this attempt will be more successful.