Spa Fund

Investing with heart - for yield and health

Spa Fund logo

,1 %

Fund valuation for 2024
Investor Report 2024

+  %

extra for spa stays
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Frasntiškovy lázně - The Spa Fund
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We invest in an industry that has been thriving for hundreds of years

We invest in an industry that has been thriving for hundreds of years

We invest in tradition, stability and health

We invest in tradition, stability and health

We invest in Czech spas

Investing
to Czech spas

Výkonnost
za posledních 12 měsíců

Cena
IAA: 1,1088 CZK

31. 8. 2025

IAB: 1,1139 CZK

31. 8. 2025

IAD: 1,1757 CZK

31. 8. 2025

Výkonnost
IAA: 1,1088 CZK
IAB: 1,1139 CZK
IAD: 1,1757 CZK

AKTUÁLNÍ ÚDAJE

Hodnota akcie
IAA: 1,1256 CZK

31. 11. 2025

IAB: 1,1282 CZK

31. 11. 2025

IAD: 1,1946 CZK

31. 11. 2025

Výkonnost akcií za posledních 12 měsíců
IAA: 7,36 % p.a.
IAB: 8,89 % p.a.
IAD: 11,26 % p.a.
Pawlik Aquaforum - café

About the Fund

The SICAV Spa Fund is proud to build on a tradition of providing spa services dating back to 2001. These deep roots in the spa industry and carefully selected properties in Františkovy Lázně are the foundation of the fund's stability and success.

The Spa Fund invests in spa properties that are used exclusively for spa stays and treatment. It is a conservative and very well established industry that is stable and prosperous over the long term. The spa industry offers a unique combination of real estate value, health care, as well as leisure tourism. The Fund aims to provide long-term appreciation of invested funds with a conservative approach and a reasonable level of risk. The Spa Fund is the first opportunity for a broader spectrum of investors to gain a share in the world renown of the Czech spa industry, which has been confirmed by UNESCO, which has inscribed the West Bohemian spa triangle on its World Heritage List.

The SICAV Spa Fund accelerates the business in which we have been successfully operating since 2001.

Investing with tradition and a vision for the future

The spa industry is an ideal field for investment

As a fund, we already own and manage a number of important buildings in Františkovy Lázně. We have successfully operated a wide range of spa services in a number of them for several decades, including many medical services that require accreditation by the Ministry of Health.

But our ambitions go further

We aim not only to develop and improve spa services to provide our clients with a unique experience, but at the same time we want to take advantage of the extensive potential that Františkovy Lázně still offers and, of course, we are constantly analyzing other spa opportunities in other locations.

Investing with tradition and a vision for the future

The spa industry is an ideal field for investment. As a fund, we already own and manage a number of important buildings in Františkovy Lázně. We have successfully operated a wide range of spa services in a number of them for several decades, including many medical services that require accreditation by the Ministry of Health.

However, our ambitions go further - not only do we aim to develop and improve spa services to provide our clients with a unique experience, but we also want to take advantage of the extensive potential that Františkovy Lázně still offers and, of course, we are constantly analysing other spa opportunities in other locations.

Trusted and professional management

For more than 20 years we have built a reputation as reliable and experienced spa professionals. The founders of the fund, Mr. Jan Doucha, Mr. Miroslav Liška and Mr. David Soukup, bring to the fund a wealth of experience in the spa industry and the management of healthcare facilities, as well as in the field of corporate financial management.

the founders of the fund, Mr. Jan Doucha, Mr. Miroslav Liška and Mr. David Soukup

David Soukup

David Soukup brings to the team extensive experience of managing and owning several hospitals. He currently holds the position of CEO of Františkovy Lázně AQUAFORUM a.s., which is the main operating entity and one of the largest spa companies in the Czech Republic. He is an active investor in the fund.

Miroslav Liška

Miroslav Liška expands the know-how of the team with his rich experience from the spa industry, where he has worked as CEO and CFO since 2014. Miroslav's main specialization is predictive models and financial management. He is an active investor in the fund.

Jan Doucha

Jan Doucha is a long-standing successful entrepreneur in the field of operation and management of spa hotels and related medical services with a total annual turnover exceeding CZK 0.5 billion. Jan enters the fund with investment experience gained in the spa industry since 2001. He is also an active investor in the fund.
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A word from the founders

We established the Spa Fund as equal partners and investors. We believe that the spa industry offers a unique opportunity to invest with low risk and stable long-term returns, particularly due to its unique combination of real estate value, services and treatment. As all three of us have been in the spa and healthcare industry for many years and have a proven positive track record and history, we believe we have created a very attractive product and, more importantly, an opportunity to invest in the spa industry. This has long been perceived as a stable business environment. We are confident that the Spa Fund strategy will appeal to you and that you will soon receive not only your first returns, with a minimum of 5% return even guaranteed, but also your spa stay, which as an investor you will be entitled to annually, amounting to 2 % of the total amount invested.

Miroslav Liška

Miroslav Liška

Miroslav Liška is the Chairman of the Supervisory Board, founding member and investor of the Spa Fund. He is responsible for investor relations and subscription of investment shares. He is also the Chairman of the Board of Directors of Františkovy Lázně AQUAFORUM a.s.

Trusted and professional management

For 25 years we have built a reputation as reliable and experienced spa professionals. The founders of the Fund, Mr. Jan Doucha, PhDr. Miroslav Liška, MBA and Mgr. David Soukup, bring to the fund a wealth of experience in the spa industry and management of medical facilities, as well as in the field of financial management of companies.

Jan Doucha

Jan Doucha and his family are long-standing successful entrepreneurs in the field of operation and management of spa hotels and related medical services with a total annual turnover exceeding CZK 0.5 billion. Jan enters the fund with extensive and long-term investment experience, which he has been gaining in the spa industry since 2001. Acquisition and management of new investment projects is his domain. He proudly claims to be one of the active investors of the fund.

David Soukup

David Soukup expands the team's experience by adding his specialty, which is healthcare. His extensive experience in managing several hospitals that he has owned appropriately rounds out the complexity of Spa Fund's know-how. In addition, David currently holds the position of CEO of Františkovy Lázně AQUAFORUM a.s., the main operating entity and one of the largest spa companies in the country.

Miroslav Liška

Miroslav Liška brings to the team his extensive experience in the spa industry, where he has worked as CEO and CFO at one of the largest spa companies in the Czech Republic since 2014. Miroslav's main areas of expertise are predictive models and financial management. At the same time, he is fully responsible for investor relations and underwriting of the fund's investment shares.

A word from the founders

We established the Spa Fund as equal partners and investors. We believe that the spa industry offers a low-risk investment opportunity with stable long-term returns, particularly due to its unique combination of real estate value, services and treatment. And because all three of us have been in the spa and healthcare industry for many years and have a proven positive track record, we believe we have created a very attractive product, and more importantly, an opportunity, to invest in the spa industry, which has long been perceived as a stable business environment. We believe that the Spa Fund's strategy will appeal to you and that you will soon receive not only your first returns, but also your spa stay to which you will be entitled as an investor.

Our approach

Responsibility

we are active investors in the fund ourselves, our aim is to develop the spa industry, which we see as a traditional and meaningful industry to which we have a personal relationship

Openness

transparent structure and management; Czech capital

Reliability

We know the spa industry intimately and know that it offers solid financial performance over the long term; contact us anytime and we'll be happy to tell you more about our industry

Always something extra

The 5% return we guarantee with our own investment is a great start, plus we add an annual spa voucher for every investor
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Transparent and stable returns, plus for your health

  • Minimum yield 5 % (class A), annually is secured by the founders' contribution, up to a minimum value of EUR 226 million. CZK.
  • Targeted yield is 7-10 %
  • Plus every investor has guaranteed vouchers for medical stays in the Fund's spa properties in the amount of 2 % of the invested funds, every year for the duration of the investment!
  • Exempt from income tax after 3 years (applies to all investors as the minimum investment period is 3 years)
  • The recommended minimum investment horizon is 4 years.
Pawlik Aquaforum

Františkovy Lázně Aquaforum

The operating company Františkovy Lázně Aquaforum is behind the daily operation of our spa hotels and houses. It is one of the largest spa companies in the country and the Spa Fund acquired a majority stake in it in 2024.
More information
  • The Spa Fund owns the key infrastructure of Františkovy Lázně Aquaforum.
  • The real estate assets are located in an attractive location listed as a UNESCO World Heritage Site in 2021 and thus have significant potential for further growth and development.
  • More assets will be added in a very short time.

Join us - invest in tradition, stability and health

Invest in the SICAV Spa Fund and become part of our visionary journey. Your capital will be carefully managed and used to further develop Františkovy Lázně's unique spa legacy.
Investments made
Planned investments

Contact

Spa Fund SICAV a.s.
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Investing with the heart
for yield and health
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Fund Manager

Winstor Investment Company a.s.
Jungmannova 745/24
110 00 Prague 1
ID: 08315868

© 2026 Lázeňský fond SICAV a.s.

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