The loss of LRH of almost 17 million kuna damages the image of the entire destination?

first_imgAlthough LRH is on sale, it is still uncertain who the new buyer will be. At the moment, the only thing that is certain is that it will not be Singapore Investment Fund because the company, for technical reasons, cannot provide them with a five-star lift. What deters potential buyers from the company is allegedly the price, but also the idea of ​​separating non-functional assets into a separate company, and selling only the core business of the company, which is not in the interest of the local community. When the company will be sold, to whom and at what price, remains to be seen. Although the total revenues of LRH of HRK 322,7 million for 2018 are at the level of the previous one, total expenditures increased by almost 12 percent, to HRK 339,4 million. Expenditures for employees had the largest impact, rising by HRK 33,7 million. Among the figures is that the loss of LRH amounted to as much as 16,7 million kuna, but it is an interesting fact that now the former President of the Management Board Igor Šehanović was paid a bonus of 14,1 million kuna. ( ZSE report ) Source: ZSE / Novi List – Photo: Remisens Hotels & Villas / Facebook In June last year, the Supervisory Board of the Republic of Croatia approved the termination of the contract of the President of the Management Board Igor Šehanović, which agreed on the payment of bonuses of HRK 14,1 million, while the total gross amount is slightly more than HRK 28 million. Last week, the Zagreb Stock Exchange (ZSE) published a report on the financial condition of Liburnija Riviera Hotel for 2018. Mayor of Opatija Ivo Dujmić, for Novi List stated that this business result greatly damages the image of the Opatija Riviera. “And that is why I think that such moves must not damage the image of the destination. Given that LRH is the most economically important hotel group in Liburnia, the City, through the company Nova Liburnija, warned in an open letter that this payment could result in such a negative business result. But now the situation is as it is and I believe that the current and future owner and management will no longer make such decisions, or that the business will go in the direction of destination development. In previous periods, it was not a practice to pay a dividend, but it was reinvested in raising the quality of facilities, and I hope that a new investor will come on this path who will further invest in the development and raising the value of the company and the destination itself.”, Commented Dujmić. SINGAPORE INVESTMENT FUND WANTS TO BUY LIBURNIA RIVIERA HOTELS RELATED NEWS:last_img read more

SPK appoints infrastructure, risk premia managers following strategy change

first_imgCIO Stefan Ros previously said of the fund’s interest in risk premia: “The hedge fund industry in general is very expensive, so we’ve tried to be creative and look for alternative strategies that can achieve what the hedge funds do but with significantly lower costs.”Hansson added that the fund also selected a real estate manager but had yet to finalise the paperwork for the appointment.As a result, SPK has now appointed managers for all of its planned alternatives portfolios.Hansson called the new asset allocation the “biggest change in the history of the fund”, with holdings in 10 asset classes rather than the previous two.It plans to allocate 20% of assets to alternatives – spread across infrastructure, property, hedge funds and alternative risk premia – with 30% in equities and the remaining half of the fund in fixed income. Sparinstitutens Pensionskassa (SPK) has appointed two new managers as it moves into infrastructure and grows its exposure to alternative risk premia.The SEK24bn (€2.6bn) fund for the Swedish banking sector recently overhauled its investment strategy, moving away from an approach that had 70% of assets in fixed income and the remainder in equities.Peter Hansson, the fund’s chief executive, told IPE JP Morgan Asset Management would be in charge of its infrastructure portfolio, accounting for 4% of assets.Ramius Alternative Solutions has also been put in charge of SPK’s 8% allocation to alternative risk premia, complementing the previous appointment of Brummer & Partners.last_img read more