RITAM POSLA Jako Andabak

Guest Jako AndabakHosted by Lidija KiseljakMay 3, 2026

Jako Andabak

About this episode

What you'll hear in this conversation

Jako Andabak recently completed one of the largest business deals in Croatia, selling his Sunce Hotels group for over 100 million euros. What makes the transaction particularly interesting is its timing: the decision to sell was made years before the pandemic, but the deal closed right in the middle of it. For Andabak, this wasn't an exit forced by crisis, but a planned strategic pivot from tourism, an industry he entered after a career in electrical engineering and insurance. His story offers a rare look at the psychology of a seasoned entrepreneur making a significant divestment—the family dynamics, the alignment with a buyer's long-term vision, and the shift toward a completely new venture. Now focusing on agriculture, Andabak shares his initial assessments of that sector's profitability and challenges, offering a clear-eyed view of what it takes to build value across diverse industries. You will walk away from this conversation with a deeper understanding of how strategic timing, emotional considerations, and a willingness to explore new frontiers shape a career defined by bold choices.

Insights from the conversation

What to take from this episode

Jako Andabak decided to sell his Sunce Hotels 2.5 years before the pandemic, finalising the deal during the crisis. The timing seemed counter-intuitive to many, but it underscored how long-term strategic decisions can be unexpectedly validated by market shifts.

The buyer of Sunce Hotels stated their intention to hold the assets for "at least twenty to thirty years," a long-term vision that significantly motivated Andabak. For a seller, aligning with a buyer's strategic intent can be as crucial as the immediate financial terms.

His granddaughter, studying tourism, reacted to the sale of Sunce Hotels with "How now? You're selling it, and I've lived it since childhood." Even with family consensus, divesting a legacy business often surfaces deep emotional attachments and generational aspirations that must be navigated alongside financial considerations.

From electrical engineering to insurance, then tourism, and now agriculture, Jako Andabak's career has followed a non-linear path. A truly entrepreneurial career is less about climbing a single ladder and more about a series of deliberate pivots, driven by intellectual curiosity and the desire to master diverse challenges across industries.

Andabak's initial investment in agriculture was an exploratory venture, "to see what it means" and "if it's profitable." Entering a new industry doesn't always require an immediate, full-scale commitment; it can begin as a strategic exploration to test profitability and understand operational realities before scaling.

After delving into agriculture, Andabak concluded it is "not an easy business," and "not profitable without serious technological investment." Relying solely on government subsidies for profitability is a precarious strategy; sustainable success in agriculture, or any capital-intensive sector, demands substantial technological investment and operational efficiency.

The buyer's plan to upgrade most of the acquired hotels to five stars continues Andabak's own premiumization efforts, which had already resulted in three five-star properties. A successful acquisition often involves a buyer who recognizes and builds upon the existing strategic direction of the acquired company, preserving and enhancing the value already created rather than dismantling it.

The buyer's decision to retain the existing management and employees was a key aspect of the Sunce Hotels transaction. For a seller, a buyer's commitment to continuity in leadership and staff can be a critical, non-financial factor, ensuring the preservation of operational knowledge, company culture, and employee well-being.

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