Ad hoc announcement
ASMALLWORLD AG (SWX:ASWN) named Exclusive Hospitality Consultant for Croatian Land Holdings Plc
Zurich, 10.09.2021 - Today, ASMALLWORLD AG announced its appointment as Exclusive Hospitality Consultant for Croatian Land Holdings Plc, a real-estate investment company focused on the central Dalmatian islands. The scope of the agreement covers the company's landmark Brač MEDhills development project on the island of Brač, where ASMALLWORLD will assist with the assessment of development options for a unique parcel of land on the Adriatic Coast covering over 1M square metres.
Today, ASMALLWORLD AG announced that it has been appointed Exclusive Hospitality Consultant for Croatian Land Holdings Plc on a land development project in Brac, Croatia. Under the agreement, ASMALLWORLD will coordinate all strategic aspects of project development, including the management of potential partner brands, with the goal of maximizing the value of this 1M square metre real estate investment for its shareholders.
Brač MEDhills - attractive development opportunity in a unique Croatian island location
The Brač Project represents a unique development opportunity. The property is located on the island of Brač, on the Adriatic Coast of Croatia, and covers over 1M square metres of land with clean ownership title and all required planning permissions in place to construct on over 400,000 m2 of building land, achieving more than 335,000 m2 of gross developed area.
With an international airport just 15 minutes' drive from the project location, the property offers multiple development opportunities for residential tourist facilities amounting up to 2,000 beds plus leisure, commercial and medical treatment facilities. The site itself is divided into three zones, all interconnected with access roads.
Expanding ASMALLWORLD's position in the hospitality sector
ASMALLWORLD's primary role will focus on assessing development options and identifying strategic partners for the project. As project consultant, the company will work to secure LOIs from international luxury brands.
Under the new agreement signed today, ASMALLWORLD is also expected to support Croatian Land Holdings Plc in finding additional investors for the development, which has an estimated market value of US$ 30-50M. In addition to consulting fees, ASMALLWORLD may also generate sales commissions in the range of US$ 1.5-2.5M over the next 3 years, provided agreed conditions are met.
"I would like to thank Croatian Land Holdings Plc for the trust that they put in us for this unique project. Our work on MEDhills will further strengthen ASMALLWORLD's standing in the hospitality industry and significantly extend our work portfolio in this field," commented ASMALLWORLD CEO Jan Luescher.
About Croatian Land Holdings Plc
Croatian Land Holdings Plc has a strong track-record of real estate investments in Croatia since 2006 and focuses on the purchase of prime building land and the subsequent development and sale of residential properties.
Croatian Land Holdings Plc has a team of seasoned real-estate investors and engages some of the best architects, project engineers and legal and tax advisors in the region.
This press release and further information can be found at www.asmallworldag.com.
The ASMALLWORLD Group
ASMALLWORLD is the world's leading travel & lifestyle community, focusing on experiences: the modern-day definition of luxury.
Centred around the ASMALLWORLD social network, the company operates a digital travel & lifestyle ecosystem which enables and inspires members to travel better, experience more and make new connections.
Members of the ASMALLWORLD social network connect through its app and website, where they can meet other members, engage in online discussions, receive travel and lifestyle inspiration, and enjoy a wealth of travel privileges.
Members also meet in person at over 1'000 global ASMALLWORLD events every year, ranging from casual get-togethers in major cities around the world, access to exclusive launches, shows, galas, soirees, exhibitions, major global sporting events, and larger flagship weekend experiences hosted in iconic destinations such as Saint-Tropez and Gstaad.
Other businesses of the ASMALLWORLD travel & lifestyle ecosystem include:
ASMALLWORLD Collection, a high-end online hotel booking engine focused on the world's most admired hotels, offering the unique "ASMALLWORLD Preferred Rate" which allows customer to enjoy exclusive travel benefits at no extra cost
ASMALLWORLD Private, a high-end travel agency offering personalised travel curation service
ASW Hospitality, a hotel management company that operates and manages the iconic North Is-land resort in the Seychelles
First Class & More, a subscription-based smart luxury travel service that allows members to enjoy luxury travel at insider prices
The World's Finest Clubs, the world's leading nightlife concierge offers its members VIP access to the most exclusive nightlife venues around the world
For more information, please visit:
Jan V. Luescher, CEO