This property includes a hotel with 160 rooms and 330 apartments. Croatian media have reported that the transaction is valued at around €45 million.
The acquisition was formally announced on ECM Partners’ website. The firm confirmed the successful takeover of Novi Vinodolski Resort on December 4, in partnership with a European investment fund that concentrates on the region.
ECM Partners, which employs approximately ten people, specializes in acquisitions throughout Central and Southeast Europe. The company has announced plans for a substantial rebranding and significant capital investments in both the hotel and the apartment facilities.
Croatian business weekly Lider reports that ECM Partners, managing York Capital’s alternative investment portfolio in the region, acquired the Novi Vinodolski Resort for the mentioned sum. The resort, previously known as the Zagori hotel complex and managed by Hoteli Novi, has been part of Wyndham Hotels and Resorts, the world’s largest hotel group, since 2019.
Located about 2.5 kilometers from the center of Novi Vinodolski, the resort complex also features a swimming pool and a large conference hall with a seating capacity of 400.
Financial reports indicate that ECM Partners has seen a steady increase in revenue. In 2020, the revenue was €2.4 million, which grew to €4.2 million in 2021 and further to €11.81 million last year, generating a profit of €6.4 million.
