Valamar Riviera as it stands today has been developing and growing on the Croatian market for 70 years. Its development consists of several stages, against the backdrop of social and political changes, tourism and hospitality development and continuous evolution of its business strategy to address global trends in the hotel industry.
- Achieved full business recovery and highest revenue ever in history, despite the energy and inflation crisis.
- Investments in hotels, resorts and camps managed by Valamar amounted to EUR 66 million.
- The second Valamar lifestyle hotel under the brand PLACES was opened, Dalmacija [PLACESHOTEL] by Valamar in Makarska, the first eco resort in Croatia, Valamar Amicor Green Resort in Stari Grad on Hvar and the acquisition of the third hotel in Obertauern in Austria - Kesselspitze Valamar Collection Hotel was realized.
- Valamar is among the TOP 10 most desirable employers in Croatia and has been the best ranked employer in the tourism for five consecutive years.
- The new sustainability strategy and ESG targets by 2025 were adopted.
- Financial Times included Valamar Riviera on the list of European climate leaders for 2022.
- April 2021 Reconstruction of Valamar Meteor Hotel 4* in Makarska. This Imperial Riviera investment is worth HRK 85 million, and the renowned Makarska hotel received a number of new facilities and premium quality accommodation
- May 2021. First hotel from the new Valamar lifestyle brand opened in Stari Grad on Hvar island - HVAR [PLACESHOTEL] by Valamar
- October 2021. Start of construction works on the new Valamar Amicor Green Resort
- November 2021. The Supervisory Board of Valamar Riviera approved the recapitalisation of the Austrian branch Valamar A GmbH with the aim of acquiring hotel Marietta 4* in Obertauern
- December 2021. The second recapitalization phase of Imperial Riviera worth HRK 690million was agreed with AZ mirovinski fondovi, aimed at portfolio development in Dubrovnik, Makarska and on the island of Rab
- Transfer of three hotels in Dubrovnik from Valamar Riviera to Imperial Riviera. The capital increase and transfer of hotels in Imperial are aimed at accelerating significant investments in the amount of HRK 2.1billion during a five-year period
- Start of new investment cycle worth HRK 300 million in Stari Grad on Hvar island with PBZ CO mirovinski fondovi
- Valamar managed to achieve long-term business sustainability with the support of key stakeholders and managed the crisis as well as the tourist season during 2020
- All jobs were protected with the aid of Government measures and the support of social partners through the "Pause, Restart" program
- Investment projects and construction works were temporarily halted for 12 to 24 months including Valamar Pinea Collection Resort in Poreč
- In 2020, Valamar won the main Corporate Social Responsibility Index Award
- Opening of Istra Premium Camping Resort 5* - first large five star camping resort in Istria
- Opening of Valamar Collection Marea Suites 5* - expanded offer of premium family holiday in Poreč
- The merger of Hoteli Makarska and Imperial, Rab - generating Imperial Riviera d.d. s with the aim of further expansion of business in Croatia and region
- Acquisition of Helios Faros on the island of Hvar partnership between Valamara and PBZ CO pension funds
- Investments in Pical Riviera – HRK 1.5 billion investment by 2021, includes hotel Pinea (HRK 790 million)
- Valamar Riviera found Best Employer in Croatian tourism
- Achieved three-year strategic growth, development and investment plan worth HRK 2.402 billion
2014-2018 NEW STAGE IN GROWTH AND ACQUISITIONS
- 2014- INVESTMENTS IN PREMIUM SERVICES AND 4* AND 5* PROPERTIES
The Valamar Dubrovnik President 5* starts its hotel operations
Opening of the Premium Valamar Isabella Island Resort 4*/5*
Takeover and merger of Hoteli Baška d.d. (est. 1949)
- 2016- By the end of 2016, Valamar Riviera established a strategic partnership with AZ pension fund successfully taking over Imperial d.d. Valamar Riviera acquired 54.71% of Imperial's share capital and AZ pension fund acquired 34.22%
Camping Resort Krk became the first 5* campsite in Croatia
Camping resort Lanterna 4* services upgraded after a large investment cycle
Preparation of Valamar’s largest annual investment cycle worth HRK 873 mn
Record business results
Redefined vision, mission and strategic goals for the period up to 2020
2010-2014 CONSOLIDATION OF THE MANAGEMENT AND THE PORTFOLIO
- 2010-2014 Consolidation of the management and the potrfolio
Zlatni otok d.d., Rabac and Dubrovnik-Babin Kuk were merged to Riviera Adria d.d., which later on integrated Valamar grupa d.d. and Valamar Adria holding d.d. The consolidated company started operating under the name Valamar Riviera d.d. and was listed on the Official Market of the Zagreb Stock Exchange in December 2014
Mergers and acquisitions
- 2011- Zlatni otok d.d. (est. 1956), Rabac d.d. (est. 1961)
- 2013- Dubrovnik – Babin Kuk d.d. (est. 1971)
- 2014- Valamar Adria holding d.d. (est. 2003), Valamar grupa d.d. (est. 2005)
2000-2010 BUSINESS GROWTH AND PORTFOLIO INVESTMENTS: Improving the quality of properties and services
- The company Valamar Hotels & Resorts begins managing hospitality operations
Introduction of the first brands for hotels and campsites, Valamar Hotels & Resorts and Camping on the Adriatic
1990-2000 PRIVATIZATION AND OWNERSHIP TRANSFORMATION: The economic processes of privatization and ownership transformation in the war's aftermath
- 1999- Establishment of Dom fond
Establishment of the largest privatization investment fund during the voucher privatization period
1965-1990 DEVELOPMENT OF CROATIAN TOURISM AND HOSPITALITY: Dynamic business growth and intensive construction of properties
Period of intensive construction.
- 1967- Luna Hotels and Apartments
- 1968- the Neptun hotel and Lanterna tourist village
- 1971- the Kristal and the Rubin hotel
- 1976- the Diamant and Zagreb hotels, the Solaris pavilion
- 1979- the Pical – the first high-category hotel in Poreč
- 1988- the Fortuna hotel on Sveti Nikola Island
Development of tourism and hospitality in Poreč in the period from 1954 to 1986
1950-1965 RIVIERA POREČ: The beginning of organized tourism and hospitality in Croatia
- 1953-Rivera Poreč established, the predecessor of Valamar Riviera
Management of hotels, bungalows and restaurants in Poreč and on Sveti Nikola Island
1895-1950 HISTORY OF CROATIAN TOURISM: 120 years of tourism and hospitality
The beginning of tourism and hospitality in Poreč
- 1895- First public bathing area on Sveti Nikola Island, Bagno Parentino
- 1910- the Riviera hotel opens (the company is named after it)
- 1913 and 1923 the Venezia and the Parentino hotels open (owned by the company to this day)