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ZAGREB (Croatia), June 13 (SeeNews) - Croatian tourism company Sunce Koncern [ZSE:SUKC] announced on Wednesday the absorption of its travel agency Sunce Global.
Sunce Koncern, which had been majority owner of Sunce Global, recently became the sole shareholder of the travel agency, it said in a filing to the Zagreb bourse.
The merger aims to simplify the organisational structure, Sunce Koncern explained.
Sunce Koncern owns and operates 11 beachfront hotels on the Croatian Adriatic coast with more than 2,450 rooms, one camping ground and other tourism related properties located in four popular tourist locations in Croatia. It has been operating in its current form since 2005 and all properties are mostly managed and operated in-house, under the brand BlueSun Hotels and Resorts.
In November last year, the company established a joint venture with Germany-based peer TUI by selling to it 50% of hotel operator Punta Zlatarac Tucepi.