Unior selling its tourism subsidiary Unitur
As part of a deal to restructure Unior's loans, Unior and the banks agreed in 2016 that the group would sell its tourism business.
Unior has already sold RTC Krvavec, a firm managing the ski slopes on Krvavec, while Unitur, which manages the Zreče spa and Rogla ski centre, will be sold now.
The sale was announced in a posting on the website of the Ljubljana Stock Exchange, whereas Unior chairman Darko Hrastnik said already a new months ago the sale would be launched this year.
He argued it would provide the necessary fresh capital for Unitur, whereas Unior would focus on investment into its core business.
Unitur is one of the companies Slovenian Sovereign Holding (SSH) would like to bring under the roof of an emerging holding of state-owned tourism companies.
In June, SSH confirmed a plan to consolidate the state ownership of Unitur, Istrabenz Turizem, Thermana, Sava Turizem, Hoteli Bernardin, Adria Turistično Podjetje, Terme Olimia and HIT, but the government is yet to endorse the establishment of the holding.
Unitur generated almost EUR 20 million in revenue last year, improving its 2017 result and exceeding the plans. Still, it posted a loss of over EUR 750,000.
One of its key challenges will be to invest in old hotels and other facilities as well as to develop new products.
There were no serious potential strategic partners interested in Unior's tourism business in the past, but Hrastnik believes the prospects to sell it are now bigger as economic grow is still upbeat and the tourism business is a company in its own right.