Once the necessary infrastructure improvements have been completed, Club Aliga could become one of the most important tourist centres on Lake Balaton, which will support the local economy and domestic tourism by creating numerous jobs and boosting the Balaton boat traffic. This year has been a year of assessment of opportunities and potential, as well as planning for short-term developments at Club Aliga, and the renewal of Club Aliga will soon enter a new phase, with the majority of the development plans for the area expected to be finalised this autumn, providing an opportunity for their presentation and meaningful consultation. The development of parts of the site has already been completed this year, with the beach having been renewed for this season and the entire area will continue to be open to local residents, who, like holidaymakers, will be able to use the beach free of charge.

Appeninn Nyrt., with the intention to renovate and develop the resort and with the plan to create a complex resort, indirectly, together with a co-investor, purchased the resort in 2019 to renew it in a long-term project, with the aim of making Club Aliga one of the most popular tourist destinations of Lake Balaton. In the first phase of the development, the partial rehabilitation of the area started later that year, with the demolition of disused and uninhabitable buildings and the improvement of the green areas. This season, the beach area has also been renewed and will remain open to local residents, who, like holidaymakers, will be able to use the beach free of charge. Visitors will find a range of new facilities, including an upgraded snack bar, a beach with newly installed mobile sanitary facilities and a playground for families and children. In addition, a number of civic, college and sporting events will be offered free of charge the opportunity to hold events on the site.

The long-term development of Club Aliga includes the development of the marina area and the construction of a hotel. The comprehensive renovation of the marina, which has great potential for sailing tourism on Lake Balaton as a whole, is expected to be completed in autumn next year, and will involve a two-year project to expand the current 168 berth marina to 213 berths, the construction of a new modern marina building and the development of the on-shore restaurant, which are also part of the short and medium-term plans. With the development of the marina, the company aims to strengthen the role of Club Aliga in the life of the Balaton shipping industry. The development of the accommodation offer is expected to result in a 4-star, year-round hotel with more than 160 rooms at Club Aliga by the end of 2023. The hotel will include a wellness area, conference centre, sports fields, playgrounds, shops and cafés.

The project will provide tourism in Lake Balaton with a reborn tourist centre, an accessible but modern recreational facility for local residents and holiday home owners, and a development with excellent return potential for our shareholders. Appeninn is a well-capitalised listed company committed to development and all the other conditions are in place for the successful regeneration of a resort area that has been neglected for decades.

Highlighting the project from an economic perspective will not only make the timing of development more predictable, but will also create many new jobs in the region, which will be created even sooner. As regards this year's developments, the coronavirus epidemic and its economic impact have not had a significant impact on the company's plans, as this is a long-term development project. Despite the economic slowdown of the last few months, the Club Aliga development has remained on schedule. The company expects further growth in domestic tourism over the longer term, which confirms its professional vision of the business opportunities that will arise from the development of a modern accommodation offer, and in line with this, it will continue to work on expansion opportunities in the sector.

The plans for the development are currently being finalised, and PRO-MOT Hungária Kft. is in continuous negotiations with the Municipality of Balatonvilágos regarding the development of the area. Both the company and the indirect owner Appeninn Nyrt. will endeavour to provide the widest possible information to the local residents and the public, as far as possible, until the negotiations with the Municipality are concluded, either by providing information directly to the Municipality or by publishing public information available to everyone through Appeninn Nyrt. The company plans to present in the autumn those development plans on which it is possible to provide meaningful information and consultation, because they already contain concrete ideas.

Appeninn Nyrt. is convinced that the renewed Club Aliga will benefit the entire region: the hotel developments of Appeninn - in addition to significantly strengthening the long-term profitability of the listed company - will also contribute to the revitalization of the Hungarian tourism and the regional economy; the operator PRO-MOT Hungária Kft. has moved its headquarters to Balatonvilágos in 2020 to support the village, and PRO-MOT Hungária Kft. is expected to become the largest employer in the village, while the planned investment will also represent a unique volume in the life of the region. Appeninn Nyrt. is confident that as the works progress, it will prove to both the local communities and the wider public that this investment, which is of key importance to the national economy, will not only bring renewal to Club Aliga, but will also benefit the local communities and the holidaymakers.

As for Club Aliga's past, the area was a private resort since 1902, until the expropriation of the land after World War II, which resulted in the "bathing area" being declared closed. After the change of regime, the resort was state-owned until 2006, when PRO-MOT Hungária Kft., still owned by a foreign investor, acquired ownership of part of the site and the right of trusteeship of the remaining parts under a trusteeship contract with the Hungarian State. During this period no development took place on the site, and the gradually deteriorating properties and overgrown green vegetation eroded the beauty of the area. Subsequently, in 2018, the former owner decided to sell PRO-MOT Hungária Kft., which resulted in Club Aliga being returned to domestic investors in 2019 through Appeninn Nyrt. and its co-investor.