Narzissendorf Zloam

Company profile

The "Narzissendorf Zloam" in the Styrian Salzkammergut/Austria is a unique tourism concept.
Created on the initiative of the municipality of Grundlsee, the Narzissendorf is a showcase project for cooperation between the public sector and private investment.  Construction of the resort began in 2020 and since then all 3 parts of the village have been gradually put into operation. The resort covers 15 hectares of land, on which 28 houses, 24 apartments, an inn as well as event facilities, sports facilities and 2,000m² of covered leisure facilities have now been built.

One of the special features of the concept is that 100% of the accommodation units have already been sold to private investors and are now being leased back on a long-term basis. This enabled immediate liquidity and further investment in the comprehensive tourism offering as well as rapid completion of the entire complex.

The proximity to Lake Grundlsee, the ski area in the middle of the resort, an extensive and varied range of leisure activities for young and old round off the concept. In addition, all the houses were built in the traditional Aussee architectural style and mainly from natural materials.

The village's commitment to sustainability is also reflected in the fact that it is car-free and has its own local heating system for heating and hot water.

In addition to Austria, its core markets are Germany, Hungary, the Czech Republic and Slovakia.

The main target groups include families with children between the ages of 3 and 14, individual sports enthusiasts and companies. The accommodation is also booked for private events and cultural events, as well as for group trips by national and international tour operators.

Developments since the last financing round with Invesdor

In January 2024, Narzissendorf Zloam offered financing via Invesdor for the first time. With great success! Within a few hours, 188 investors had already invested the maximum amount of 500,000 euros and thus financed the project.

Find out what has happened since the last financing.

Company Info

The business model

The residential units built by the company, Zlaim Gütl Errichtungs GmbH (ZGE), were sold to investors as part of a buy-to-let model. These investors lease their 28 Aussee houses and 24 apartments of various sizes back to our wholly-owned subsidiary, Narzissendorf Zloam Betriebs GmbH (NZB), and receive a 40% share of sales in return.

The operational management of the resort is the responsibility of NZB, which operates the entire resort, including the catering facilities, the event area and the leisure facilities, as a hotel resort all year round.

In 2023, an occupancy rate of just under 50% in terms of opening days was already achieved with a net average rate per residential unit and day of around EUR 240 and thus also a positive operating result.

In the marketing area, all common sales channels (social media, booking platforms, own booking engines, direct marketing, etc.) are used and maintained daily by external and internal sales teams and a specialized PR agency. There is also close cooperation with the local tourism association and other leading businesses in the region.

Our customer structure is largely made up of families with children aged between 3 and 14 in the individual guest segment, but also corporate customers (seminars & incentives) and tour operators, particularly in the off-peak seasons. We have achieved very rapid market acceptance and recognition in both segments and are enjoying rapid and steady growth.

Market

With its fully equipped houses and apartments (perfectly equipped kitchen, washing machine, dryer, sauna), guests are offered the option of self-catering. It is also possible to have a breakfast box delivered to your doorstep and the "Zloam Wirt" offers take-away meals. In general, the trend "away from staying overnight and towards living" during the vacation and thus with the incentive for long-term stays and the topic of "workation" is fully taken into account.

The demand for high-quality accommodation in the Salzkammergut is still growing strongly. The designation of the Salzkammergut as European Capital of Culture 2024 is an additional driver, which will create further lasting awareness and new interest in discovering this unique region.

In 2023, there was a slight decline in occupancy in the 4*/5* hotel segment across Austria as a whole, but a sharp increase in the chalet and resort segment. According to "Österreich Werbung", this trend will continue in the coming years due to sustainable and nature-oriented concepts, resulting in corresponding increases in occupancy rates.

In this segment and with this special offer an annual increase of 8-10% can therefore be expected over the next few years.

Management

Distribution of company shares

Dr. Hans Steinbichler, 100% owner of the ICS, has developed the project with great passion together with his wife Marion and has acted as managing director of the construction and operating company since the beginning. Trained in his parents' hotel, the Hotel "Wasnerin", probably the most traditional hotel business in Ausseerland, and with over 50 years of national and international experience in all functional areas of the hotel industry, he is the mastermind behind the project.

After more than 40 years in management positions at Erste Bank, Mag. Johann Lassacher has played a key role in shaping the financing structure and legal affairs of the company as Managing Partner

Mr. Wolfgang Fischer is the man behind joro-GmbH. Management positions at ORF, then for many years managing director of Wiener Stadthalle and today managing director of DDSG have made him a valuable supporter of the company's development, above all thanks to his outstanding expertise in marketing and PR.

Mag. Paul Josef Colloredo-Mannsfeld manages his parents' forestry operations in Austria and the Czech Republic. As a real estate expert with knowledge of the region, he also made significant contributions, particularly in the early years of implementing the buy-to-let model.

Company structure

The issuing company, ZGE, built the Narzissendorf Zloam resort in Grundlsee. The residential units were sold, resulting in the revenue generated. NZB now operates the Narzissendorf as a hotel and pays lease payments to ZGE.

Developments at Narzissendorf Zloam since the last crowdfunding

The funds from the last, highly successful crowdinvesting campaign were used to build high-quality employee accommodation for a total of 7 people. Our employees are the heart of our village and their well-being is at the centre of our efforts. It was therefore very important to us to build modern and comfortable accommodation, and the latest round of funding was a great success. The first employees have already been able to move into their flats and are very happy to have their own retreat with a fantastic view of Lake Grundlsee or the Aussee mountain panorama, where they can relax and feel at home.

The remaining funds were used to expand the natural and authentic leisure facilities. In particular, we built the unique ‘Austria Trail’, which provides our guests with interesting facts and background information about our country, such as geology, wildlife, farming, flora and fauna.

The trail consists of 8 knowledge wheels, each of which is assigned to a federal state. They represent the positions of the respective provincial capitals of the provinces on a map.

The Austria Trail can be combined with a fascinating puzzle rally (for all ages), including a competition, or simply explored individually.

Back to the beginning.

Use of funds

In this financing round, you have the choice between a cash interest rate of 8% and a interest in kind rate of 12%.

If you opt for the cash interest rate, your investment will earn interest at a fixed rate of 8%. This interest is due annually and is paid as a cash transfer.

If you choose the interest in kind rate, you will receive the interest annually in the form of goods/service vouchers. Your advantage is an additional bonus: Cash interest of 8% is offered and interest in kind of 12%. This corresponds to a bonus of 50%. No money is paid out on the vouchers.

Redeem your interest in kind at the Narzissendorf Zloam and at the family-run 4-star superior hotel DIE WASNERIN G'sund und Natur Hotel.

Note: The vouchers can be redeemed at our partner companies subject to availability.

Note:
Bonuses are only awarded to investors if the investment project is realized and after the financed amount has been paid out to the company, approx. 4 weeks after the financing has been closed.

*According to availability.
**Discount is applicable for bookings made by 30.09.2024 on the current daily rate for direct bookings via www.zloam.at or at reception for any travel period.
***The vouchers are non-transferable. They can be used for bookings made by 30.09.2024 on the current daily price for direct bookings via www.zloam.at or at reception for any travel period.

Investment related documents

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