HTP Korčula and HTP Orebić join the Aminess system: merger formalizes the integration of the South Dalmatian portfolio
HTP Korčula d.d. and HTP Orebić d.d., two key hotel-tourism companies on Korčula and the Pelješac Peninsula, have entered the process of merging into Aminess d.d., thereby consolidating the assets, liabilities, and operational capacities of the three companies into a single business system. According to the published documents, the goal is to accelerate the investment cycle, strengthen destination management, and, in the long term, raise the competitiveness of southern Dalmatia in relation to an increasingly demanding Mediterranean market.What the merger specifically means and how it is carried out
According to the joint notice by the management boards of the companies involved, the merger agreement was concluded on 11 June 2025 and submitted to the court register on 12 June 2025. In accordance with the applicable rules, the merger is deemed completed only upon registration in the court register of the acquiring company, after which the merged companies cease to exist, and Aminess becomes the universal legal successor and assumes all legal relationships, assets, and liabilities.
The documentation also states a technically important step: the division of the acquiring company’s shares in a 1:4 ratio, i.e., one ordinary Aminess share is split into four new ordinary no-par-value shares, while the amount of share capital remains unchanged prior to the increase itself. As part of the merger, an increase in Aminess’s share capital is also envisaged through the issuance of new shares, which are then transferred to the shareholders of the merged companies as compensation for the transferred value.
Share exchange ratios and cash payment for “fractions”
The joint notice published the ratios according to which the shareholders of HTP Korčula and HTP Orebić receive Aminess shares:
- for 1 HTP Korčula share (nominally €6.00), 1.12850 Aminess shares are provided
- for 1 HTP Orebić share (nominally €13.00), 2.69929 Aminess shares are provided
For shareholders who, by calculation, do not receive a whole number of shares, rounding down to the nearest whole number is предусмотрено, and the difference is settled in cash in a proportional amount, taking into account the assessed values of the shares of the companies involved in the merger. It is also stated that cash payments for such differences should be made within 30 days from the date of registration of the merger in the court register.
Context: integration began earlier, now it is being rounded off through legal consolidation
Although the hotel brand and operational management on Korčula and Pelješac have already been recognized for years under the umbrella Aminess identity, the merger now further simplifies the corporate structure. In Aminess Group’s financial documentation, the merger of Dalmacija Hoteli d.o.o. into Aminess d.d. (2022) was previously stated, after which Aminess became the direct majority owner of stakes in HTP Korčula and HTP Orebić. With this step, according to the logic of corporate governance, the system moves toward greater transparency and more efficient decision-making, especially in the segments of investments, procurement, digitalization, and human resources management.
Why Korčula and Orebić are strategically important and what is expected on the ground
Korčula and Orebić are among the destinations with pronounced seasonality and strong pressure on infrastructure in peak months. That is precisely why hoteliers’ strategic plans increasingly emphasize extending the season, raising service quality, and diversifying the offer: from active holidays and gastronomy to cultural content and events outside the summer peak.
For part of the local population, the issue of job stability is also key. A merger typically means centralizing some administrative functions, but in tourism, operational jobs remain tied to facilities and destinations. In practice, a stronger investment momentum and process standardization are most often expected, which can affect service quality and opportunities for year-round employment, especially if the offer is successfully expanded into the pre-season and post-season.
For visitors and business partners, the change is most visible through a unified sales system, loyalty, service standards, and faster decision-making on investments. For those planning to arrive at the destination, practical information and logistics are especially sought during the season, so it is useful for travelers to check in advance
accommodation for visitors to Korčula or
accommodation offers in Orebić, especially in periods of major events and the busiest weekends.
Investments, sustainability, and destination management: what stands out in public messages
In its publicly available materials and corporate reports, Aminess emphasizes growth through investments, modernization, and the development of a multi-category offer, with an increasing focus on destination management and sustainable practices. In the context of Korčula and Pelješac, this most often includes more rational resource management, energy efficiency, transport solutions, and cooperation with local suppliers, and, in a broader sense, content that relieves the “classic” model of summer tourism.
In practice, the local community’s expectations most often boil down to two levels: visible investments in facilities and content, and a partnership relationship in which tourism growth does not take place at the expense of quality of life. That is precisely why the need is increasingly emphasized for hoteliers to participate in projects concerning broader infrastructure, from transport to utility systems, and not exclusively in “closed” investments within their own plots.
Aminess today: portfolio expansion and market positioning
According to official announcements related to the Aminess Hotels & Resorts brand, the company manages a portfolio of properties along the Croatian coast and islands and continues to expand its presence in new destinations. In autumn 2025, it was highlighted publicly that Opatija became the 11th destination in the portfolio, along with the announcement of managing a premium property in Volosko and the growth of the total number of properties. Such a development direction is also important for understanding the merger of HTP Korčula and HTP Orebić: the consolidation of ownership and the management structure facilitates directing investments and responding more quickly to market trends, from changes in demand to rising labor and energy costs.
At the same time, for travelers coming to southern Dalmatia, larger systems also bring a more recognizable standard and easier travel planning. In periods of high demand, earlier planning and checking options such as
accommodation near the event venue on Korčula or
accommodation for visitors in Orebić and the surrounding area is recommended, because availability in the peak season often becomes a limiting factor.
Possible effects on shareholders and the capital market
For shareholders of the merged companies, the key issues are the exchange ratios and settlement conditions for share fractions, as well as the fact that after the merger is registered, the merged companies cease to exist, so the ownership interest continues through shares of the acquiring company. Such changes typically go hand in hand with changes in securities trading, including delisting or changes of status on the stock exchange, which in earlier periods was already the topic of public announcements related to HTP Korčula and HTP Orebić.
For the broader market, the merger can be read as part of a trend in which Croatian tourism is gradually consolidating: smaller or regionally focused companies increasingly become part of larger systems, with the aim of financial stability and stronger investment capacity. In conditions of growing competition in the Mediterranean, this is also a way to raise quality, extend the season, and ensure greater resilience to shocks, from changes in air connectivity to volatility of demand in key source markets.
What remains crucial to monitor next
The most important formal moment remains the registration of the merger in the court register of the acquiring company, because only then do the legal effects of the cessation of existence of the merged companies and the transfer of all rights and obligations to Aminess occur. After that, in practice, operational “closure” of the process is expected through the alignment of contracts, records, branding, and internal procedures, with a clearer investment map for Korčula and Pelješac.
For destinations that live off tourism, the most important question is not only the corporate structure, but whether consolidation will result in better content, a stronger post-season, and higher-quality management of the pressures of mass tourism. It is precisely on Korčula and in Orebić, where historical heritage, natural resources, and seasonal peaks meet, that it will be shown how much such business moves can contribute to a balance between growth and the preservation of the area’s identity.
Sources:- AMINESS d.d., HTP Korčula d.d. and HTP Orebić d.d. – joint notice on the merger agreement (exchange ratios, share split, capital increase, deadlines) link
- AMINESS d.d. – Report for 2024 (consolidated results, investments, and strategic highlights) link
- AMINESS d.d. – group financial documentation (mention of the merger of Dalmacija Hoteli d.o.o. and ownership stakes in HTP Korčula and HTP Orebić) link
- Aminess Hotels & Resorts – official announcement on portfolio expansion (Opatija as the 11th destination) link
- Forbes Croatia – information on portfolio expansion and the 11th destination (context of growth and property management) link
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