Published 16. March 2016.
According to the audited financial report for 2015, Valamar Riviera d.d. has earned total consolidated operating revenues in an amount of HRK 1,294 million, which is an 18 per cent increase, or HRK 197 million more than in 2014. In the same period Valamar Riviera secured EBITDA (earnings before interest, taxes and depreciation) in an amount of HRK 423 million, thereby achieving 49 per cent growth, or HRK 139 million increase in comparison to the preceding year. On the company-wide level, Valamar’s highest growth – as much as 24 per cent – was recorded in the 4- and 5-star hotel and resort segment, which is a result of a successful completion of significant investments to reposition the portfolio in the upscale segments over the past few years.
At yesterday’s session, Valamar Riviera’s Supervisory Board approved a HRK 196 million investment in the Family Life Bellvue Resort in Rapac. With its opening scheduled for 2017, this investment will raise the quality and number of 4-star accommodation units, and create numerous new amenities for guests such as water attractions, sport and recreational facilities, family and children services and innovative restaurant concepts. The Supervisory Board also approved the signing of three-year partnership contract with leading global tour operators TUI Northern Europe, TUI UK and TUI Nordic Holding, whereby the Family Life Bellevue Resort in Rabac would become the first TUI Family Life hotel in Croatia in 2017.
The Family Life Bellevue Resort project is part of a strategic plan to develop Rabac into one of the leading holiday destinations in Croatia, where Valamar Riviera is planning to invest approximately HRK 430 million by 2018 with the aim of repositioning its Rabac portfolio to the 4-star level offering high value-added services and experiences.