Pursuant to the Zagreb Stock Exchange Rules, Sunce koncern d.d., Trpinjska 9, Zagreb (“Sunce”, the “Company” or the “Group“) and the subsidiaries that make up the Group: Hoteli Brela d.d., Hoteli Tučepi d.d. and Hoteli Zlatni rat d.d. ("Subsidiaries"), jointly inform the investment public of exposures to the members of the Thomas Cook Group that have opened bankruptcy proceedings in their home countries up to this date.
As a part of its regular business, Sunce sells part of its accommodation capacity through allotment contracts with various global tour operators, including individual members of the Thomas Cook Group. As of September 25, 2019, the total receivables from members of the Thomas Cook Group that have opened bankruptcy proceedings amounted to approximately HRK 16.1 million.
Exposure of Subsidiaries to the above mentioned members of the Thomas Cook Group are as follows: Hoteli Brela d.d. of approximately HRK 7.5 million, Hoteli Tučepi d.d. of approximately HRK 8 million and Hotels Zlatni rat d.d. of approximately HRK 0.6 million.
All receivables due from the Thomas Cook Group were duly settled by September 23, 2019, in accordance with the payment due date.
Sunce believes that the loss of the members of the Thomas Cook Group, who opened bankruptcy proceedings as allotment partners, is largely a one-off effect on the current season and will have no impact on future business of the Company.
As guests in Sunce Group hotels currently include also clients from Thomas Cook Group members who have opened bankruptcy proceedings, the safe and enjoyable stay of their guests will be secured according to their previously scheduled stay, until such time as the domicile governments do not provide return flights for their nationals, all in accordance with the applicable European Union legislation to deal with such situations.
Sunce koncern d.d.
Hoteli Brela d.d.
Hoteli Tučepi d.d.
Hoteli Zlatni rat d.d.
Contact: ir@bluesunhotels.com
WEB: www.bluesunhotels.com/investors
Source of information:
Sunce Koncern d.d.
Trpinjska 9, 10000 ZAGREB
Tel: 01/3844-044
Fax: 01/3844-177
E-mail: ir@bluesunhotels.com
Web: www.bluesunhotels.com
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