July 30 (SeeNews) - Croatian hotel operator Hoteli Maestral said on Monday its net loss contracted to 4.8 million kuna ($757,826/648,740 euro) in the first half of 2018, from a loss of 4.9 million kuna a year earlier.
Hoteli Maestral's total revenue increased 5.5% on the year to 18.6 million kuna in the first six months of the year, while total expenditures added 3.6% year-on-year to 23.4 million kuna, the hotel company said in a filing to the Zagreb Stock Exchange.
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Maestral recorded 63,217 overnight stays in the first half of 2018, up 5% on the year.
In March, Croatia's state-run center for enterprise restructuring and privatisation, CERP, launched a tender for the sale of a 68.94% stake in hotel operator Hoteli Maestral.
CERP's last attempt to sell Maestral failed in February, after it rejected the bid lodged by Czech company J&T IB Capital Market. Another call finished unsuccessfully in September 2016, as no bids were submitted.
(1 euro=7.39896 kuna)