Back to News
Valamar approved investments for 2020 in the amount of HRK 826 million
February 7, 2020

Valamar approved investments for 2020 in the amount of HRK 826 million

The Supervisory Board of the leading Croatian tourism company, Valamar Riviera, has approved the investment cycle for 2020 totaling EUR 111 million across all Valamar destinations, including Imperial Riviera.

Investments in 2020 represent the continuation of Valamar’s investment strategy of repositioning and upscaling the portfolio towards high value tourism products and services.

Next year Valamar shall complete a large investment in repositioning Istra Premium Camping Resort in Funtana into the first 5-star camping resort in Istria. The three-year investment project will amount to EUR 56 million. Investments continue in Padova Premium Camping Resort on Rab island, Valamar Meteor Hotel in Makarska, Valamar staff residence in Dubrovnik, energy efficiency and digital projects.

Valamar is investing a total of EUR 202 million by 2021 in the new Pical zone in Poreč, where the construction of hotel Pinea, the largest single investment in Croatian tourism worth EUR 106 million, is already underway. Significant investments during this winter also include repositioning Valamar Parentino 4 * (ex Valamar Zagreb) with an expanded offer of accommodation and services for family holidays.

Valamar Riviera has invested close to EUR 808 million in tourism so far, and is thus recognized as one of the largest investors in Croatia and the region.

“In a season marked by a slower growth in tourist demand, we continue to achieve strong growth due to significant investments made in the last period. The announced investment cycle marks the beginning of a new strategic period until 2022. The focus shall remain on investing in socially responsible and sustainable development of our portfolio, destinations and employees,” said Željko Kukurin, CEO of Valamar Riviera.

 

Join AmCham

Join the leading international business community in Croatia.

Since 1998, AmCham Croatia represents business interests of American, international as well as Croatian companies. With more than 250 members, employing over 85.000 people, we are the voice of international business in Croatia. We are the first choice of international companies for policy advocacy in Croatia.

Join us now