Stara Planina Hotel seeking investor – Tender for evaluation of market value in progress

The Public Enterprise Stara Planina has opened a public invitation for evaluation of the market value of Stara Planina Hotel in Jabucko Ravniste and consulting services.

The subject of the public invitation, as stated, is the service of financial consulting in order to carry out the evaluation of the hotel and the business activities to the end of preparing for negotiations with potential renters or investors – gaining insight into necessary capital investments, a reasonable rent price, as well as making a comparison with the alternative of renting in an open market.

The invitation entails professional consulting in the process of finding investors – strategic partners, help in preparing an invitation for bids related to investments and preparation of contracts related to investments, preparation of sales materials – teasers, as well as preparation of the Data Room, presentation of projects to potential investors or partners and consulting in the negotiation process as help in defining contracts and signing investment contracts.

As the PE Stara Planina informs us, while the public invitation is open, they can’t discuss the details, plans and potential investors interested in managing or renting the hotel. The bid submission deadline is September 21.

Let us remind that Stara Planina Hotel opened on December 25, 2011. The state had invested over EUR 30 million and it was, as announced, the first greenfield investment in local tourism after 20 years. The construction took 13 months. A gondola connecting the hotel with the Babin Zub peak, from which ski tracks featuring artificial snow systems stretch downwards, is located next to the hotel.

The Falkensteiner Group terminated the contract on managing the hotel in late December 2015. The contract was signed in 2012 for 15 years.

The hotel has 146 rooms and 380 beds, 26,000 square meters of usable area and a wellness and spa center, as well as an outdoor pool.