Valamar keeps investing in portfolio and service upgrade

Valamar keeps investing in portfolio and service upgrade

Published 06. December 2018.

The Supervisory Board of Croatia’s largest tourism company Valamar Riviera has approved the next investment cycle: the total investments in Valamar’s destinations will reach HRK 793 million in 2019.

The 2019 investment projects aim at repositioning the hospitality portfolio and develop high added-value products and services. Valamar Riviera will thus complete its 3-year investment cycle worth over HRK 2 billion that was outlined in Valamar’s growth strategy for the period up to 2020.

The largest 2019 investments are focused on Istra campsite (next year it will become Croatia’s first large 5-star campsite), the opening of the luxury family hotel Valamar Collection Marea Suites 5* in Poreč and the development of numerous additional facilities and service concepts in Valamar’s other campsites, hotels and resorts. In line with its strategic goals, Valamar also plans to continue with sizeable investments in seasonal staff accommodation.

Valamar’s next-year plans for Rab island include a large investment cycle totaling HRK 140 million that covers investments in Valamar Carolina Hotel & Villas 4* in partnership with the brand TUI Sensimar, the development of various family-oriented facilities and services at Valamar Padova Hotel 4*, and an investment at Padova campsite that will receive a 4-star rating and the prestigious mark Premium Camping Resort under the brand Camping Adriatic by Valamar.

Valamar’s 2019 plans for Hoteli Makarska (acquired by Valamar earlier this year) include investments in the quality and facilities at Meteor Hotel that will be operating under the brand Valamar Hotels & Resorts as of next year.

“The successful growth of Valamar’s business operations is the result of our investment strategy to upgrade the quality of our products, staff and destinations in a responsible and sustainable way while looking after the interests of all the stakeholders involved. In the coming period, Valamar will define its goals and strategic initiatives by 2022, with a focus on further investments in the development of its hospitality portfolio, destinations and employees,” said Željko Kukurin, CEO at Valamar Riviera.

Valamar continues to confirm its leading position through the growth of business operations and investments in the country’s tourism. Valamar’s total investments have now reached HRK 5 billion:  HRK 4.3 billion have been invested in the upgrade of hotels, resorts and camping resorts and HRK 700 million in acquisitions and further expansion. Over the past three years, Valamar has created 2,300 new jobs while significantly increasing salaries and improving working conditions. This year, Valamar successfully completed the acquisition of the Croatian hotel company Hoteli Makarska d.d. and the first Valamar hotel in Austria.