Although 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:
Join DAZN and watch more than 100 fight nights a yearHowever, Golden Boy Promotions CEO De La Hoya has reacted angrily to the news, insisting Derevyanchenko’s camp “never had any intention” of securing a bout with Alvarez.In a statement sent to media outlets, De La Hoya said: “We are extremely disappointed at the IBF for forcing the world’s best fighter to relinquish his world title.”We have been in serious negotiations with Sergiy Derevyanchenko’s promoter. We offered his team an unprecedented amount of money for a fighter of his limited stature and limited popularity, but the truth is that I’m now certain they never had any intention of making a deal. But instead they wanted to force us to relinquish Canelo’s belt. Oscar De La Hoya has launched a furious tirade against the IBF and announced he is considering legal action after the organization stripped Saul “Canelo” Alvarez of his 160-pound title.Alvarez lost his IBF belt on Thursday after his promoters failed to agree on a deal for a fight against mandatory challenger Sergiy Derevyanchenko. “This is an insult to boxing and more importantly an insult to the boxing fans of the world.”This decision validates already existing concerns about the credibility of the IBF championship. Canelo inherited a mandatory challenger by defeating Daniel Jacobs, the man who beat Derevyanchenko, so to strip him of his title without giving him enough time to make the best fight possible is truly what is wrong with boxing, and I plan to aggressively consider all legal actions possible.”Derevyanchenko is now expected to face Alvarez’s rival Gennady Golovkin for the newly vacant IBF belt.