The name of the state-owned public limited company explains its core business: renting of thermal water facilities and providing the related services in the Olimia Spa located in the north-eastern Slovenia, well-known for its thermal and mineral water springs. The company was established in 2003 by the public limited company Terme Olimia, d.d. with the aim to acquire a spa in Croatia – Terme Tuhelj and to foster synergies and complementarities. There is significant potential in the spa industry as we are changing the way we take care of our bodies, minds and spirit, and consumer forces are driving the growth of wellness services and products. When the new company Terme Olimia Bazeni needed fresh capital, Kapitalska družba, d.d. (KAD) and Zvon Ena Holding, d.d. provided the necessary funds and took control of the company with the aim to capitalise on growing wellness lifestyle trends. Unfortunately, there was a change of fortune for Zvon Ena Holding, the company providing financial and investment services, and portfolio management, and it filed for bankruptcy in March 2011. The state-owned Kapitalska družba included the shares in Terme Olimia Bazeni in its invitations to tenderers to acquire shares and stakes in the companies in its portfolio. Since the prices offered were too low and would have short-changed the Slovenian taxpayers, the efforts to sell the company have not been successful so far.
The Slovenian government’s current economic roadmap based on privatisation and budget constriction efforts is in line with the austerity-based recovery programmes other ailing European economies have been implementing. Divestiture is one of the government commitments and KAD’s equity holding of 49.70 per cent combined with almost 20 per cent held by the second-largest Slovenian bank Nova KBM (also state-owned) will give the new owner control over this profitable company and a hefty return on investment.
The added value the company Terme Olimia Bazeni has for potential investors is the spa complex and its surroundings – the Kozjansko region is a perfect setting for five hotels, Aparthotel Rosa, apartment settlement Vas Lipa and the Camp Natura. The strategy for the spa is to develop the new world concept of ‘Selfness’ in Slovenia: to offer guests experiences that go beyond wellness by showing them the path to self-realisation — achieving a body-mind balance and improving the quality of life.
The natural healing remedy of Olimia Spa is the thermal water with temperatures ranging from 24 to 36 degrees Celsius. It is extracted from a well 520 meters deep located within the camp site Natura and the Aqualuna thermal park. The temperatures at the spring range from 24 to 44 degrees Celsius, so the temperature in the various pools is achieved by mixing water from several springs.
Even the ancient Celts and Romans knew that the spring water had healing power and the monks of the Order of Saint Paul the First Hermit used it for medicinal purposes. At Olimia Spa, the balneotherapy is used to treat rheumatic diseases, skin diseases, blood circulation disorders, in post-operative recovery and bone and muscle injuries.
Nowadays, the concept of wellness, fitness, selfness … is more important than ever. The Olimia Spa boasts a complete wellness selection along with the most prestigious Orhidelia Wellness, excellent health programs, aquatic adventures, sauna relaxation, recreational options, clean air and tranquillity make up the mosaic of regenerated living in Olimia Spa, located in valley of the Sotla River at the heart of Kozjansko. As the population in the developed countries lives longer, so are rheumatic diseases, skin diseases, and blood circulation disorders becoming more frequent. With the help of the thermal water and the expert staff, the spa offers all kinds of balneotherapy to help people speed up recovery from injuries, illnesses and operations, strengthen muscles, organs and body, and feel well again in record time. In addition to skin diseases, the water at the Olmia Spa is also beneficial to the diseases of peripheral nerves. The spa also offers various preventive anti-rheumatic programs, post-operative recovery and bone and muscle injuries, as well as programs suited to managers. Everyone can find room here for recreation, contemplation and rest.
The spa complex - Terme Olimia – boasts saunas, swimming pools, thematic relaxation areas and a beauty centre and offers one of the best wellness experiences in Slovenia. Their “Orhidelia” world of thermal pleasures has already won numerous awards and was among 11 finalists at the World Architecture Festival 2009 in category Holiday, a global architectural awards programme sets the benchmark for architectural excellence. With over 2,000 square meters of indoor and outdoor swimming facilities, the Wellness Centre Termalia is a real oasis of saunas, massages and pools.
The privatisation of the company Terme Olimia Bazeni comes at the right time for a business savvy investor to grow his business into these kinds of opportunities since not many investors are necessarily well-attuned to wellness trends. Spa is still a relatively new industry and it has not yet reached the level of managerial/entrepreneurial professionalization that exists in other, more mature industries (such as the hotel, that is, hospitality sector), and many spa managers come from a therapeutic background and not a business background.
The spa industry can take advantage of growth and partnership opportunities in myriad wellness-related sectors. In addition, the preventive health segment as offering the biggest opportunity for their future business, and that preventive healthcare ranks as one of the two greatest forces influencing their spa businesses moving forward. The countryside along the river Sotla with its combination of historical heritage, its unspoilt natural beauties and its natural hot springs offers advantages not many places have. And when it comes to wellness, Terme Olimia offers four spa centres to treat almost any ailment — from anti-ageing to anti-cellulite or physiotherapy to pampering. Local, natural thermal waters are a source for bathing and drinking at the resort, complemented by traditional food and idyllic natural and cultural surroundings. Although offered separately, the spa cannot be separated from the company Terme Olimia Bazeni that operates the springs and the Wellness Centre Termalia, and it is a safe and profitable investment with plenty of opportunities to develop further.
Address: Mala ulica 5, 1000 Ljubljana, Slovenia
Registration number: 5727847000
VAT registration number: SI46130373
Legal status: public limited company
Telephone number: +386 1 300 91 13
General E-mail address: firstname.lastname@example.org
Web page: www.so-druzba.si
Slovenska odškodninska družba, d. d. (hereinafter: Slovenska odškodninska družba, d. d. or SOD) is a public limited company, whose sole funder and shareholder is the Republic of Slovenia. The Republic of Slovenia has, pursuant to the resolution of the National Assembly (Parliament) adopted at its session on 21 June 2013 (Sklep o soglasju k odtujitvi naložb Republike Slovenije, Kapitalske družbe pokojninskega in invalidskega zavarovanja, d. d., Slovenske odškodninske družbe, d. d., Modre zavarovalnice, d. d., D.S.U, družbe za svetovanje in upravljanje, d. o. o. in Posebne družbe za podjetniško svetovanje, d. d., Official Gazette of Republic of Slovenia, no. 52/2013), commenced with the sale of shares held, directly or indirectly, by the Republic of Slovenia in 15 companies.
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