Valamar has been successfully implementing its development strategy and achieving goals of double-digit growth in business value. Presently, Valamar’s portfolio includes 33 hotels and resorts and 15 camping resorts in six destinations. The average growth in operating profit and enterprise value over the last three years has amounted to around 30 percent annually. Nowadays, Valamar is among the top ten companies in Croatia in terms of market capitalization, as well as a major exporter and a significant partner to Croatia’s economy. This year, the company will employ 6,600 people and, according to the findings of a recent best employer perception survey, Valamar tops the list in Croatia’s tourism sector and is one of the most desirable employers in the country.

As of this year, Valamar will communicate its identity under the Valamar umbrella brand, with the All You Can Holiday slogan, to create the perfect holiday and authentic experiences for each individual guest.
The company portfolio will be divided into five product brands: Valamar Collection and Collection Resort, representing modern luxury products; Valamar Hotels & Resorts, which is the main brand for hotels and resorts that will be differentiated as the family-oriented Maro Family or Designed for Adults; Sunny by Valamar, the portfolio’s economy brand; and Camping Adriatic by Valamar, the brand used for camping resorts and holidays in nature. Valamar Riviera’s 2017 Integrated Company Annual Report and Corporate Social Responsibility is available on the link 

In total, Valamar has invested over HRK 4 billion in its tourism portfolio; in the last two years alone, the investments amounted to HRK 1.6 billion. There have been several major advances in product development to create new holidaying standards and reposition the portfolio to target high-end guests. The first step towards modern luxury resorts and new service concepts was made with the investment in Valamar Collection Isabella Island Resort 4*/5* in Poreč, worth over HRK 320 million.

This and the previous year saw the completion of the largest investment in Croatia’s tourism in Rabac with the construction of two resorts worth HRK 635 million in total: Valamar Collection Girandella Resort 4*/5* and TUI Family Life Bellevue Resort 4*. Initially a three-star destination, Rabac has thus been successfully repositioned as the leading holiday destination on the Adriatic coast.

An important step forward was also made in Dubrovnik this year – the Valamar Argosy Hotel 4* was repositioned as a hotel designed for adults. At the same time, the Valamar Collection Dubrovnik President 5* has been recognized as one of the best hotels in Croatia for several years now. Furthermore, Valamar was one of the first companies in the Mediterranean to make a leap forward in premium camping, with the first five-star campsite in Croatia on the island of Krk, Krk Premium Camping Resort 5*, and by making significant investments and upgrading services at the Lanterna Premium Camping Resort 4* in Poreč and other campsites in the portfolio. As for the island of Rab, where Valamar has been operating since 2016, following the privatization of Imperial Rab, this season saw the opening of the renovated Valamar Collection Imperial 4*, the first hotel on the island to become part of the new premium brand, Valamar Collection.

As regards the year 2019, the Supervisory Board of Valamar has granted prior approval for investments and projects amounting to HRK 616.5 million, which will continue the company’s intensive investment cycle. Moreover, the new brand strategy will provide strong support for Valamar’s further growth and development.

“In the previous period, Valamar Riviera achieved a significant growth in value for the investors, averaging more than 30 percent annually, while the dividend yield was approximately 2 percent. Our new brand and development strategy is focused on continuing Valamar’s successful growth according to its formula of investing in employees, products and destinations, steered by sustainability and corporate social responsibility. By year-end, we will present the development strategy for the period up to 2022 that will enable us to continue the innovative and responsible development of both Valamar and Croatia’s tourism,” said Željko Kukurin, President of the Management Board of Valamar Riviera.

Valamar Riviera’s 2017 Integrated Company Annual Report and Corporate Social Responsibility is available here.