The Supervisory Board of Valamar Riviera d.d. has already approved the upcoming annual investment cycle of 599 million kuna. Thus, Valamar continues its intensive investment strategy to raise the quality of its portfolios and services to high-value tourism, reports HRTurizam on June 27, 2019.
Although significant, the investment cycle for 2020 is lower than in the previous years, and as highlighted by Valamar Riviera, it is because of the global slowdown in market demand and rising operating costs.
However, the big news surrounding the new investment cycle is the announcement of the largest Croatian summer resort with a total value of 790 million kuna, which was presented on Thursday in Poreč.
The Poreč hotel Pical 2* will be wholly transformed into a luxury five-star resort with about 500 accommodation units. The resort, which will accommodate as many as 1,700 guests, will have seven bars and seven restaurants, 2,200 square meter swimming pools, the Sundance beach club, indoor pool and wellness center, Maro family facilities and perhaps the most important – a congress center for 1,200 guests.
The construction of this summer resort is the most significant single investment in Croatian tourism, and the completion of the investment is planned for 2021. Valamar continues to invest in the Pical area, which together with the Valamar Collection Marea Suites 5*, which opened this year, will become the top of Poreč tourism and one of the most attractive tourist areas in Croatia.
“Valamar has successfully realized investments and business goals set for the past three years and is now moving into a new phase of development. We plan to continue developing our business following our formula of success based on investing in employees, products, and destinations, with sustainable development and socially responsible business. However, it is still necessary to work on the overall competitiveness of Croatian tourism compared to other destinations in the Mediterranean if we want to strengthen the investment potential of the tourism sector and keep our employees in tourism in Croatia,” said Željko Kukurin, Chairman of the Board of Valamar Riviera.
Valamar has successfully realized all this year’s investments worth 793 million kuna. Thus, Valamar has invested a total of 5.8 billion kuna in Croatian tourism.
By the end of this year, a new development strategy will be presented for the next three-year period, and thus continue to realize the vision of leaders in holiday tourism that, in partnership with destinations, provides authentic guests experiences, concludes Valamar.
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