Agri Holding AG is registered in Fribourg, Switzerland. TV Slovenia has learned that the Swiss company has ties to Serbian businessman Miodrag Kostić, who has long been interested in purchasing the hotel. According to TV Slovenia, the deal is worth 25 million euros.

Sale is part of disinvestment plan
The contract signed between both parties came into effect on Thursday. However, the sale will not be finalized until all suspensive conditions are met, according to Istrabenz hoteli Portorož.
The subsidiary said that the sale of Istrabenz hoteli Portorož is part of the parent company's disinvestment plan, which was previously approved by the company's debtor banks. The disinvestment is a crucial part in the company's plans to reduce its indebtedness. Another goal is to develop the company's core product LifeClass into the Anti-Aging Resort brand.

Strong business results
The investments come on the back of strong business results in Portorož. Thanks to investments in the first quarter of 2014, total revenue has increased in 2015.
Between April and August 2015, Istrabenz turizem recorded a total of 179,000 overnight stays in Portorož alone – up 5 percent year-on-year. Revenue has also increased 5 percent to 13.3 million euros. Moreover, earnings before interest, taxes, depreciation, and amortization (EBTIDA) jumped 17 percent or 600,000 euros year-on-year.

In the first eight months of 2015, the company recorded a total of 231,470 overnight stays, and generated 17.2 million euros in revenue and 3.8 million in EBITDA, according to a company press release.

T. H.; translated by D. V.