An unnamed Chinese investor has acquired the Radisson Blu Resort & Spa Sun Gardens resort in Dubrovnik from Austria’s Erste Group Bank in what is believed to be the largest hotel transaction in Eastern Europe this year.
Financial details were not disclosed, but the price paid is believed to be in the region of around €90 mln.
Built in 2009, the Radisson Blu beach resort is one of Croatia’s largest hotel complexes. It comprises 201 rooms and suites, extensive sports, leisure and health facilities, a conference zone spanning more than 1,100 m2 and 207 high-quality apartments.
Lukas Hochedlinger, managing director of Germany, Austria & CEE at Christie & Co commented: ‘In terms of positive performance and development possibilities, this resort is unique in Croatia. We are delighted to have concluded the sales process for Erste Group with a visionary investor capable of continuing the Sun Gardens success story.’
