The Croatian competition authority (AZTN) has adopted the second report from PricewaterhouseCoopers regarding the implementation of measures and conditions set forth in the conditional approval of the merger between Eagle Hills Zagreb Real Estate d.o.o. and Sunčani Hvar d.d.

According to the Commissioner’s analysis, the measures outlined in AZTN's decision are being fully executed in accordance with the commitments made. The AZTN has accepted the report in all aspects.

The first measure, which involves structural and periodic investments in hotel capacities, is ongoing and is being carried out according to the timeline specified in the decision. During the reporting period, investments in hotels have significantly exceeded the minimum commitments, thereby enhancing the quality of accommodation offerings and the competitiveness of the destination.

The second and third measures, which pertain to maintaining and further developing the existing supply chain, have been executed in line with AZTN's decision. Notably, the expansion of the supplier network has included a greater number of local suppliers, further promoting the development of the local economy and strengthening the connection between the tourism sector and domestic production.

The results of the measures indicate positive effects on investments, employment, and collaboration with local tourism partners. AZTN emphasizes that the purpose of the oversight is to ensure timely and complete implementation of the measures and conditions from the conditional approval of the merger throughout its duration. The Commissioner will continue to monitor the fulfillment of remaining obligations and will submit further reports in accordance with AZTN's decision.