TUI and Sunce plan to build three new hotels on Brač
20.11.2017. | Announcements
The investment will cover a 320,000 square metre area on the island of Brač.
The Sunce Group, owned by Jako Andabak, has bought 320,000 square metres of land in Sutivan on the island of Brač. There they plan to build three new hotels in cooperation with the German tour operator TUI.
This is the final phase of a joint venture of Sunce and the German tour operator, which last week bought from Sunce a 50 percent stake in the Punta Zlatarac Tučepi company. Hoteli Tučepi sold the share for 31.5 million euros, with Punta Zlatarac becoming a joint venture, with TUI now having 51 percent and Sunce 49 percent of the ownership.
“The land is located on the island of Brač, in the municipality of Sutivan, and represents an exceptional location for the development of new tourist facilities. It is an area of 320,000 square metres with direct access to the coast and good infrastructure connectivity,” said Sunce.
The project on Brač is still in the planning phase, and the final decision on TUI's brands that would be tied with hotels is expected in the forthcoming period. The hotels will be managed by a company that will manage all hotels owned by the Punta Zlatarac.