CPZvezda Brus

Information about CPZvezda Brus

Published on January 22, 2008

Author: Simeone

Source: authorstream.com

Content

Slide1:  Belgrade, November 2005 TUP “ZVEZDA”, BRUS Company Profile Tourism Sector in Serbia:  Tourism Sector in Serbia 2 Tourism industry in Serbia grew at a rate of 38% in 2004 compared to 2003, registering the highest growth rate in the country’s economy. Revenues of Serbia’s tourism industry equaled 221 milion USD in 2004. It is estimated that revenues will exceed 250 milion USD in 2005. In the period 2001-2003, the number of international travelers has more than doubled and revenues from foreigners visiting Serbia have increased more than six times. In the article published in December 2004, London weekly magazine Observer placed Serbia among top 20 most attractive tourist destinations in the world in 2005. Favorite destinations of foreign tourists are Serbia’s biggest cities, Belgrade, Novi Sad, and Niš, Mount Kopaonik and Mount Zlatibor, and spas - Banja Koviljača and Vrnjačka Banja. Tourism in Serbia Brus – tourist offer Tourist arrivals in Serbia Source: Serbia and Montenegro Statistical Office Tourist overnights in Serbia Brus lies on the east slopes of Kopaonik, the most reputed mountain and national park in Serbia. Brus is located between the rivers Rasina and Grasevacka, 429 m above sea level, and is known as an air-spa. Brus has favorable geographical position. It is situated at the crossroad for Kopaonik, Krusevac, Aleksandrovac, Josanicka Banja and Vrnjacka Banja. It is 250 km far from Belgrade. Favorable geographical position and the vicinity of Kopaonik have recently enabled the intensive development of tourism in the Brus community. Its altitude, numerous thermo-mineral springs, abundance of forests and water, sport terrains and a swimming pool caused the development of mountain, sport, recreational, health, hunting and village tourism. The rich past of Brus is obvious in numerous cultural and historical monuments such as: monastery Lepenac from 15th centaury, ruins of monastery Milentija from 14th centaury, medieval fort Koznik and the church of Sv. Preobrazenje built in Brus in 1836. Village Brzece lies at the foothills of Kopaonik at the height of 1.070 m. Due to favorable geographical position and climate, it has become reputed tourist center with several hotels and a a chair lift leading from Bryece to the peak of Kopaonik. There are numerous natural beauties and historical monuments in Brzeca. Brzece is one of the most attractive centers of country tourism and favorite vacancy of school children and sport clubs. Brzecka river flows through the village and one can visit several beautiful watermills. Because of its nature beauty Bryecka river is under state protection. In the vicinity of Brzece, on the way to Kopaonik, in the very national park there is a sanctuary Metodje from 3rd centaury, with a church and a geyser. Also, in the vicinity of Bryece, there are mountains Jastrebac, Kamariste and Becirevac, as well as Toplica river spring. Source: Serbia and Montenegro Statistical Office Basic information about the Company:  Basic information about the Company 3 Introduction Transaction Tourist and catering company “Zvezda”, Brus has 80 years long tradition in providing catering services. The Company possesses two tourist facilities, with total area of 3.852 m2, which are located in Brus (Hotel “Zvezda”) and in Brzeca (Motel “Bela reka”). TUP “Zvezda” has very favorable location. Hotel “Zvezda” is situated in the very center of Brus, and motel “Bela reka” is a part of tourist complex Brzeca. Favorable climatic conditions and closeness to the most famous tourist center in Serbia – Kopaonik, are what makes these locations attractive. According to the accommodation capacity structure, bearing in mind the natural characteristics of the Kopaonik region, objects of TUP ˝Zvezda˝ are extremely favorable for school excursions, as well as for athletes’ accommodation. The Company establishes long-term cooperation with several tourist agencies. The operating revenues of the Company increased by 72% in 2004, compared to 2000. The revenues from services, in the period 2000-2004, increased cumulatively by 46%. The net result of the Company, during the last three years, was positive. The Company has a favorable financial position, according to: The structure of Company's assets is dominated by fixed assets (96,5%), as at 31.12.2004. In the structure of total funding sources, the own funds has high share of 90%. Operating revenues In the structure of capital of the Company, socially owned capital has 96,14% share and shareholders equity has 3,1% share. According to the privatization law, Privatization Agency is selling 70% of socially owned capital (67,3% of total capital) of the Company on public auction. CES Mecon is an adviisor of the Privatization Agency on sale of 70% of socially owned capital of TUP ˝Zvezda˝, Brus. In the period 2000-2004, the operating revenues of the Company was about EUR 200.000 on average. Revenues from services make the most part of operating revenues, 93% on average. During the last five years, the operating revenues of the Company increased by average annual rate of 15%. In the same time, revenues from services increased annually by 10% on average. Operating revenues of TUP ˝Zvezda˝, Brus, EUR 000 Source: TUP ˝Zvezda˝, Brus Resources of the Company:  4 Resources of the Company 4 Capacity Hotel “Zvezda” is located in the center of Brus, in Kralja Petra I street no. 53. Total area of the objects is 2.574 m2. The Hotel consists of basement, ground level and four floors where the rooms for guests are located. Motel ˝Bela reka˝ Motel “Bela reka” is located within the hotel complex of the Brzece village. Total area of the objects is 1.278 m2. The motel consists of two parts. The first part was built in 1990 nad the other part for accomendation 1999. Hotel ˝Zvezda˝ was built in 1938, while in 1974 the new part was built for guests accomondation, with total area of 1.626 m2. Hotel ˝Zvezda˝ has 52 rooms and 117 beds, as well as a restaurant with 200 seats. During spring and summer the hotel operates with a summer garden with a capacity of 150 seats. During the calendar year, hotel ˝Zvezda˝ on average has 8.000 guest overnights. Ski-center of the Kopaonik is 15 kilometers far from the hotel. The connections with the ski-center are Brzece-Kopaonik road and cable-car. The capacity of the motel is 22 rooms, i.e 110 beds. The motel has a restaurant with a capacity of 65 seats. The motel is mainly resting place for children and is in function from 2000. Annual number of guest overnights is about 14.000 on average, what represents a capacity utilization of 35%. Hotel ˝ Zvezda˝ The Company TUP ˝Zvezda˝, Brus owns two facilities: Hotel ˝Zvezda˝ in Brusu and Motel ˝Bela reka˝ in Brzeći. The capacity of the Comany is 74 rooms, i.e 227 beds. Beside rooms, the Company has 2 restaurants with capacity of 265 seats and a summer garden, with capacity of 150 seats. Capacity of TUP ˝Zvezda˝, Brus Sorce: TUP ˝Zvezda˝, Brus In ˝Zvezda˝ hotel, double rooms are dominant – 31. There are 17 triple rooms, and 4 single rooms, also. Motel ˝Bela reka˝ is built as resting-place for children, so rooms with several beds are dominant. This kind of structure can be easily changed. Overall number of guest nights in TUP “Zvezda” goes around 20.000. With the capicity utilization of barely one quarter, TUP ˝Zvezda˝ has a 15% share in overall number of guest nights in Brus, i.e has a 6% share in number of guest nights in Kopaonik. Beside school children and youths, sport associations and clubs are regular guests of TUP ˝Zvezda˝. Financial overview:  Financial overview 5 Income statement Balance sheet Source: TUP ˝Zvezda˝, Brus Source: TUP ˝Zvezda˝, Brus Exchange rate: 31.12.2003: 68,3129; 31.12.2004: 78,885 Exchange rate: 2003: 65,0428; 2004: 72,5671 CES Mecon & Real Estate and Lodging :  CES Mecon & Real Estate and Lodging CES Mecon is a leading real estate, lodging and services investment advisory practice in Serbia. CES Mecon acted as a sell side advisor to the state in the successful privatization of several Belgrade hotels: Union, Royal, Turist, Šumadija, as well as Hotel Park, Novi Sad and Fontana, Vrnjacka Banja, and is currently engaged as sell-side advisor in the process of privatization of Hotel Nacional, Belgrade. 6 2003 Hotel Royal €6.3 million Sellside advisor 2002 Hotel Union €2.6 million Sellside advisor 2004 Hotel Šumadija €3 million Sellside advisor 2005 Fontana Vrnjacka banja €5 million Sellside Advisor 2003 Hotel Turist €1.5 million Sellside Advisor 2004 Hotel Park Novi Sad €6.2 million Sellside Advisor Contact information:  Contact information Dragica Lovreta CES Mecon Danijelova 12-16 Belgrade Serbia and Montenegro Tel: +381 11 3090 800; 3090 856 Fax: +381 11 3090 876 Email: [email protected] www.cesmecon.com 7

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