• Tourism & Leisure
  • destinations of choice
  • One of the largest hospitality and leisure groups in Croatia and the only 5-star hotel in Nicosia, Cyprus

  • Number of hotels: 11
  • 2015 Revenue:
  • €35m
  • 2014 Revenue:
  • €38m
  • Date of original investment:
  • July 2008
  • MIG Ownership (31 December 2015):
  • 49.99%

Sunce (Bluesun Hotels & Resorts) is one of the largest groups in the Croatian hospitality and leisure industry. Sunce owns and operates 11 hotels (4 hotels in Brela, 4 in Tučepi and 3 in Brac) and with a total capacity of 2,248 rooms and 4,510 beds situated along Croatia’s Adriatic coast in the cities of Bol, Brela and Tučepi.

The portfolio of uniquely positioned hotels is strengthened by other attractive assets owned by Sunce Bluesun, namely Airport Brac, which has recently undergone extensive refurbishment, with an annual capacity of 5,000 aircrafts of up to 100 seats; 317,000sqm of agricultural land on Brac Island and a 40-year concession for another 2,600,000 sqm; three currently non-operating hotels and one residential building located in Brela and Bol.

Sunce Bluesun    
Financial Summary (€m) 2015 2014
Current assets 4 4
Non-current assets 178 179
Total assets 182 183
Total Equity 105 102
Sales 38 35
Net profit / (loss) after minority 3 2

  • 2015 Revenue:
  • €10m
  • 2014 Revenue:
  • €10m
  • Date of original investment:
  • August 2007
  • MIG Ownership (31 December 2015):
  • 75.1%

Hilton Cyprus is the only 5-star hotel in Nicosia with 294 recently refurbished rooms, strategically located in the city center, close to local businesses, shopping venues and corporations, the Central Bank of Cyprus and the International Conference Center. The hotel is operated under the Hilton brand since 1967 with a management contract until 2017 (with an option to extend further).

The hotel consists of 294 recently refurbished rooms, of which 24 are suites, 76 executive rooms and 194 standard rooms, with business, health and leisure facilities. The hotel is the venue of choice for the local and international business community visiting Cyprus.

The hotel is located in the city’s most luxurious property, while it also encompasses a highly valuable developable land (with more than 6,000 sqm, one of the few sizeable plots left in the city center) adjacent to the hotel, which could yield extra 20-25,000 sqm of usable floor-plate with potential commercial usage (mixed-use office and residential, shopping center, casino and concert venue).

Hilton Cyprus    
Financial Summary (€m) 2015 2014
Current assets 1 1
Non-current assets 93 93
Total assets 94 94
Total Equity 75 74
Sales 10 10
Net profit / (loss) after minority 1 1