Renovation works have started at Club Aliga in Balatonvilágos. In addition to the demolition of buildings that have been neglected for decades, many of which are accident-prone, and the recultivation of green areas, Appeninn Nyrt., listed on the Budapest Stock Exchange, is also starting the complete modernisation of the resort area. As a result, the beach and harbour area will be renewed for this season, providing Balaton tourism with a reborn tourist centre and local residents and holiday home owners with a recreational facility that meets today's needs.

The first focus of the modernisation is the centrally located beach and the coastal area around the harbour. Here, guests will enjoy a renewed environment this summer. The reclamation of a previously overgrown green area with invasive species and a significant number of diseased plants will begin. The beach area will also see the construction of new toilets and a new playground, as well as a number of other facilities to make the beach more pleasant for beach-goers, sailors and visitors. Pro-Mot Hungária Kft. will now coordinate the operation of the resort itself.

A major, comprehensive renovation of the harbour is also on the cards: from next autumn, Appeninn Nyrt. is planning to create a completely new harbour and beach restaurant, which will take two years to complete, further strengthening Club Aliga's position in the boating scene of Lake Balaton. To this end, Appeninn Nyrt.'s subsidiary Pro-Mot Hungária Kft. has also entered the Kisfaludy Tourism Development Programme's harbour development tender, which offers a favourable financing opportunity for the modernisation and expansion of the harbour, which has been neglected by the previous owners but has great potential for the entire Balaton sailing tourism.

In the northern part of the resort area, the so-called Aliga2 sub-area, the demolition of several long-neglected, unprotected and sometimes accident-prone buildings, which were previously closed off, and the clearing of the overgrown vegetation around them have also begun. This phase of the development aims to create attractive building plots, the sale of which will help to finance the overall refurbishment of the whole complex.

In addition to this, Appeninn Plc. also plans to renew the deteriorated accommodation offer at Club Aliga. It is envisaged to build a 150-200 room, 3-4 star, year-round hotel. The hotel would be accompanied by sports facilities, playgrounds, shops and cafés. The multi-billion forint investment, for which Pro-Mot Hungária Kft. has also submitted an application under the Kisfaludy programme, is expected to be completed by the end of 2023.

Appeninn Nyrt. continuously consults with the Balatonvilágos municipality and the local community on the above development ideas. The company is also ready to engage other market co-investors to ensure that the large-scale development will create a renewed, attractive resort area on the site of the long-neglected and deteriorating complex, which the company purchased in 2019.

According to Tamás Bernáth, Chairman and CEO of Appeninn Nyrt., the complete renovation of Club Aliga is an integral part of the company's renewed strategy, in which tourism, especially the development of the Balaton ports and accommodation facilities, is given a prominent role. Appeninn is a well-capitalised, expert listed company committed to development and all the other conditions are in place for the successful regeneration of the resort, which has been neglected for decades.

The expert added that the project is also a good example of the value-saving and value-creating approach that characterises all the company's investments.With its realisation, tourism in Lake Balaton will be enriched with a reborn tourist centre, local residents and holiday home owners will have an accessible but modern recreational opportunity, and our shareholders will be able to enjoy the value of a property with excellent yield generating capacity.