CPI Property Group has signed an agreement about selling two companies which own and operate resort hotels on the island of Hvar in Croatia. The agreement concerns the disposal of Sunčani Hvar Hotels, the company announced. The full purchase price has been deposited with an escrow agent, but the amount of the price was not specified.
CPI Property Group has announced the signing of a binding agreement for the sale of 100% of the shares of Sunčani Hvar Nekretnine d.o.o. and Sunčani Hvar d.d., the companies owning and operating the Sunčani Hvar Hotels, a resort hotel portfolio located on the island of Hvar, Croatia.
The purchaser is Eagle Hills, a real estate and hospitality investor and developer based in Abu Dhabi. The transaction is conditional only on approval by the Croatian antitrust agency; the full purchase price has been deposited with an escrow agent.
"CPIPG continues to see strong investor interest in hotels as tourism and business travel have rebounded fully from the COVID period," said Jan Kratina, Director of CPI Hotels.
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