The state just can’t seem to get rid of Hoteli Maestral…
First comes the letter of intention, and only then does a new valuation and then a set of new privatisation conditions come.
As Dubrovacki Dnevnik writes on the 8th of March, 2018, another bid for the purchase of Hoteli Maestral from the state it set to be announced.
Today, it is expected that a non-binding bid invitation, with 30-day submission deadline, will be announced. The terms themselves, or more specifically, the starting price for the majority stock package, have not been determined at this stage, and only the collection of letters of intent is to take place, and on the basis of interest, the company should re-evaluate the value of the company and determine the terms of the sale.
According to information from local Dubrovnik political circles, the starting price seems to be the most sensitive link in the process, which is the reason why the announcement of the new bid was delayed.
It is generally been by locals to be too low and too unrealistic, given that Maestral has five hotels and 44,000 square feet of attractive land in Lapad Bay.
