Hotel Sunce d.o.o. Neum
Hotel Sunce d.o.o. Neum is one of two largest hotels in Neum, the only coastal town in Bosnia and Herzegovina.
After an extremely successful tourist season in 2019, its best to date, the company decided to invest in expanding its offer and redecorating its premises.
To do this, it obtained two long-term loans in the total amount of €2.675 million from UniCredit in December 2019 to start works immediately and be ready for the 2020 tourist season. However, in 2020 when the Covid-19 pandemic hit, the tourism sector in Bosnia & Herzegovina as in many other countries was severely impacted by travel restrictions.
Given this situation, Hotel Sunce turned to UniCredit to discuss the best way forward. UniCredit reacted quickly to the company’s financial needs, granting it an 18-month grace period on its loans to help Hotel Sunce navigate the negative impact of Covid-19 on its business.
In 2021, with Covid-19 restrictions easing and tourism returning to Neum, Hotel Sunce was able to obtain 80% of the revenues it had generated in 2019, at the peak of business, which meant the grace period on its loan repayments could be finished one month early.
Hotel Sunce is now back to strong financial health and already planning new investments to further enhance its offer to customers, in collaboration with UniCredit.
Meanwhile the two loans originally granted in 2019, have been used to renovate 100 rooms, common areas, the façade and outdoor pool of the hotel, making it more attractive and helping Hotel Sunce stand out amongst competition.
The support and understanding provided by UniCredit Bank were crucial. We thus overcame the negative effects caused by the pandemic and successfully welcomed the tourist season by improving our services.
Luka Prkačin, CEO of the Hotel Sunce Neum