A rare opportunity to invest in a 56-hectare island hospitality destination in the Adriatic, with an established tourism operation and significant development potential.

Obonjan Island is a 56-hectare destination located off the Dalmatian coast of Croatia, approximately 30–45 minutes by boat from Šibenik and accessible from both Split and Zadar airports. The island operates under a long-term leasehold extending through 2058 and benefits from established tourism infrastructure and development rights.

More than €14 million has been invested into the island's infrastructure, including roads, electricity, sewage, water systems, communications, accommodation and other facilities. The existing operation currently accommodates approximately 750 guests across forest lodges, bell tents and mobile homes, complemented by restaurants, bars, event spaces, wellness offerings, a pool and other guest facilities.

Obonjan has developed a diversified operating model combining public tourism with corporate and private events. In 2024, approximately two-thirds of revenues were generated through the B2B segment, including corporate events and private island takeovers.

The investment opportunity centers on the next phase of development. Two strategic paths are presented in the investment materials: expansion of the existing glamping concept toward approximately 3,000 beds, or transformation into a high-end luxury resort with approximately 2,400 beds and further potential for a hotel and marina.

Under the investment case presented in the supplied teaser, the estimated new-investor requirement is approximately €40.8 million for the as-is strategy or €46 million for the high-end strategy. The teaser projects target-state EBITDA of approximately €15.5 million annually under either strategy, with projected IRRs of 57.0% and 50.4%, respectively.

The opportunity combines an established hospitality platform, existing infrastructure, a distinctive Adriatic island setting and substantial potential for further resort development.

Investment figures and financial projections are based on the supplied investment teaser dated December 2024 and should be independently verified as part of the investor due-diligence process.