According to the Annual Management Board report for 2014 Valamar Riviera d.d. recorded total consolidated revenues amounting to 1,117 billion HRK, or 31 million HRK more than in 2013. Consolidated sales revenues grew by 30 million HRK or 2,8% over 2013 and amounted to 1,078 billion HRK despite a challenging and rainy tourist season and an increase in the VAT rate on hospitality services from 10 to 13%. The negative influence of the higher VAT rate on sales revenues is estimated at 26 million HRK.

At Valamar portfolio level the strongest growth in revenues of 26% was achieved in the 4 and 5* hotel and apartment segment coming from an increase in overnights, average price and capacity. This growth is driven by Valamar's successful implementation of significant investments in repositioning the portfolio towards higher categories.

In 2014 Valamar recorded a total increase in overnights of 2,5%. Growth was especially strong in Dubrovnik at roughly 4% in overnights and 12% in revenue where the largest investments in accommodation capacities in the previous 5 years were also concentrated. This is equally a confirmation and an incentive for further development of Dubrovnik as a prestigious tourist destination.

In addition, the company reported growth of 8% in camping sales revenues despite adverse weather conditions and weakened demand. 

2014 was marked by the process of reorganizing and optimizing the structure and operations of Valamar as a foundation for creating added value for shareholders.  Valamar grupa d.d. and Valamar Adria holding d.d. were merged into the company Riviera Adria d.d., and the merged company began operating under the name Valamar Riviera. «First positive results of our group restructuring activities are already visible in 2014 as increased operational efficiency led to a growth in adjusted EBITDA of 10% to 317 million HRK, while EBT grew by 48% to 59 million HRK. I am also pleased that investors recognized Valamar's performance leading to an increase in market capitalisation of 85% compared to 2013, and winning of the share of the year award on the Zagreb Stock Exchange.», said Mr. Franz Lanschützer, President of Valamar Riviera Management Board.

In order to increase competitiveness of products and services and to strengthen market position Valamar doubled the share of 4* and 5* units over the past three years to 25% of total capacity and in the past year continued with significant investments in repositioning the hospitality portfolio towards higher categories. In 2014 the largest investments were realized in hotel Valamar Dubrovnik President which became the first 5* hotel in the portfolio, while hotels Zagreb in Poreč and Argosy in Dubrovnik were successfully upgraded to 4*. In the course of 2014 the company capitalized 382 milion kuna of investments in hospitality properties. In 2015 Valamar is continuing to invest and put new properties on the market, of which the largest single investment is 250 million HRK in Valamar Isabella Island Resort 4* on island Sv. Nikola in Poreč due to open this season.

«Investments in the existing portfolio are a very important impetus for future growth and development. We are continuing to actively assess various options for expansion, partnerships and acquisitions in Croatia and the region. We hope that this will also be a year of addressing the issue of unresolved status of touristic land that is necessary for stimulating significant new investments in tourism in the upcoming period», said Ivana Budin Arhanić, Valamar Riviera Management Board member.