New Owners for the Hotel Helios Group in Stari Grad

The official announcement should be due shortly, but a significant real estate transaction has just been completed on Hvar, with the Stari Grad hotel group Helios assuming new majority owners.

The new owners are Croatian company Geneza in Slavonski Brod, which Total Hvar understands has assumed a 70% stake in the company. Details are still emerging and should become clear with the official annoucement. 

The sale should be seen as good news for the town and its tourism industry, which has suffered from the lack of investment in the hotels, in stark contrast to the millions which have been invested in Suncani Hvar's hotels in Hvar Town since ORCO bought a majority stake in 2005. 

More details as we have them.