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Hilton Lopud Beach Resort & Spa marks the third Hilton Hotels & Resorts property in Croatia, and Hilton’s first property on Lopud Island.

LOPUD ISLAND, Croatia – 17 October 2025 – Hilton (NYSE: HLT) today announced the signing of Hilton Lopud Beach Resort & Spa, following a management agreement with Anker Grupa d.o.o. The resort, located on the picturesque Lopud Island near Dubrovnik, will offer guests a blend of comfort and natural beauty when it opens in 2027 following an extensive renovation of the property and grounds. 

The resort is set in a prime seafront location surrounded by palm trees and Mediterranean greenery, offering guests an inspiring homebase that combines Hilton’s signature hospitality with a unique local experience. Hilton Lopud Beach Resort & Spa will feature 111 modern and comfortable rooms and suites, each with a balcony or terrace, and seven spacious apartments in a separate building, each with their own terraces. 

Alan Mantin, vice president, development, Southern Europe, Hilton, said, “Hilton Lopud Beach Resort & Spa represents an exciting step for Hilton in Croatia, bringing our flagship brand to one of the country’s most beautiful and tranquil islands. Croatia is a country known for its ancient history, diverse cuisine and welcoming people, so we’re delighted to be collaborating with Anker Grupa d.o.o. as we further expand our portfolio.”

Alessandra Severi, member of the Ownership and Board of Directors, Anker Grupa d.o.o., said, “We are proud to work with Hilton on this landmark project for Lopud Island. Our vision is to create a resort that celebrates the island’s natural beauty and heritage, while offering guests an unforgettable experience of relaxation and respect for the surrounding environment.  By partnering with Hilton, we’re bringing international standards of excellence to Lopud and presenting it as a premier Mediterranean destination, and we look forward to welcoming visitors in 2027.”

Lopud Island, the second largest of the Elaphiti Islands, is renowned for its sandy beaches, crystal-clear waters, and serene atmosphere. With its proximity to Dubrovnik – a UNESCO World Heritage site and one of Southern Europe’s most popular destinations – the new resort is perfectly positioned to attract both leisure and business guests seeking an exclusive island experience.

Guests will enjoy a variety of dining options, including three restaurants and two bars, all with panoramic terraces and stunning views of the Adriatic. Other facilities will include a spa and wellness centre, including a heated infinity swimming pool, a private beach house, beach gazebos, and a range of sporting activities such as a gym, bike hire, and outdoor tennis courts. The resort will also offer yacht rental for guests, and a Grab & Go food market for added convenience.

With four meeting rooms and a ballroom, the hotel makes an ideal setting for business travellers and event organisers, and the resort’s private pier and boats will provide seamless transfers to and from the mainland, ensuring easy access to Dubrovnik’s Old Town and Dubrovnik Airport.Hilton Lopud Beach Resort & Spa will be the first internationally branded hotel on Lopud Island, joining Hilton’s growing Croatian portfolio of 13 hotels trading or in the pipeline, including Hilton Imperial Dubrovnik, Hotel Preko Ugljan Island, Curio Collection by Hilton and Hilton Rijeka Costabella Beach Resort & Spa.

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Proxy adviser Institutional Shareholder Services advised Tesla shareholders to vote against Elon Musk’s proposed $1tn pay package, citing its “striking magnitude”.

ISS also said its lack of binding terms would not ensure the billionaire remains committed to the company.

“The 2025 award has an astronomical grant value conditioned upon far-reaching performance targets that, if achieved, would create enormous value for shareholders,” ISS said in a report on Friday.

“While it is recognised that the board seeks to retain Musk due to his track record and vision for Tesla’s future . . . there are unmitigated concerns surrounding the special award’s magnitude and design,” the proxy adviser added.

The report comes ahead of Tesla’s annual meeting on November 6 when shareholders will vote on the unprecedented package, which could grant Musk as much as $1tn in stock over the next decade.

Musk would receive no salary or bonus under the plan but would collect shares in instalments unlocked by increases in Tesla’s market value, combined with milestones, including a huge increase in earnings and selling millions of cars, robotaxis and artificial intelligence-powered robots.

Achieving the maximum payout of 423mn shares would be extremely challenging. Musk would have to increase adjusted earnings 24-fold to $400bn and boost Tesla’s market capitalisation to $8.5tn from $1.38tn today — almost twice that of Nvidia, currently the world’s most valuable company at $4.5tn.

“While performance targets are far-reaching, unprecedented size locks in high pay opportunities for years to come, and billions can be earned for just partial goal achievement,” ISS added.

Musk runs numerous other companies and has already amassed a $448bn fortune from his stake in Tesla and private holdings in SpaceX, xAI, Neuralink and The Boring Company.

ISS noted that “there are no prescriptive elements within the award to ensure his focus and time remain on Tesla as opposed to his other ventures, undermining the award’s primary rationale”.

The proxy recommendation is a blow to the board and its chair, Robyn Denholm, who are lobbying large shareholders to support their plan. She told the Financial Times the award was justified because Musk is a generational talent that would have to expend “time, energy and effort beyond what most humans can do”.

Last year, ISS and peer Glass Lewis also counselled investors to reject a proposal to reinstate Musk’s $56bn 2018 Tesla pay deal, which was struck down by a Delaware judge after a protracted court battle. However, Tesla won the vote anyway with more than three-quarters backing the company.

If approved, the additional shares Musk could receive would push his holdings in the electric-vehicle maker from about 16 per cent to at least 25 per cent, after taxes and dilution. The chief executive has said that he may leave Tesla if he does not gain greater control, arguing that he needs to protect the company from activists or a hostile takeover as it develops powerful AI technology and humanoid robots.

A spokesperson for Tesla did not immediately respond to a request for comment.

ISS said Tesla’s corporate governance committee chair Ira Ehrenpreis should not be reelected to the board after “unilaterally” adopting a bylaw that “materially restricts shareholders’ litigation rights”.

However, the adviser said two other directors, Kathleen Wilson-Thompson and Joe Gebbia, should be backed.