HRTurizam reports that the Supervisory Board of Imperial Riviera d.d. approved an HRK 67 million investment in repositioning Hotel Dalmacija in Makarska as [PLACESHOTEL] by Valamar.
The investment continues the announced five-year cycle of investments in Croatian tourism worth HRK 1.5 billion, which AZ pension funds and Valamar Riviera jointly launched.
The Covid crisis has temporarily halted and slowed down the investment plan, which is why investments started in 2019 were finalized only in 2021. Still, the approval of investments in the Hotel Dalmacija represents a partial restart of the investment cycle. Namely, the tourist season showed the potential for a rapid launch of Croatian tourism and the opportunity for further growth and development of high value-added tourism, so Imperial Riviera decided to accelerate the investment cycle.
After the successful privatization of Imperial and the Makarska hotel, and the subsequent merger and increase of capital in Imperial Riviera, investments in the total amount of HRK 580 million were made in the past period, and the following hotels were repositioned: Parentino, Meteor, Padova, Imperial, and Padova.
With an investment of HRK 67 million, Hotel Dalmacija will undergo complete reconstruction and refurbishment following the standards of the Valamar [PLACES] brand.
From next season, Hotel Dalmacija in Makarska will become the second hotel to operate under the Valamar [PLACES] brand. The new concept is designed for modern travelers seeking freedom of choice, modern design, and an authentic destination experience with full respect for nature and the environment.
Imperial Riviera has in its portfolio seven hotels, three tourist resorts, and two camps in the leading Croatian destinations island of Rab, Poreč, and Makarska, which makes a total of 3,498 accommodation units and a capacity to accommodate almost 10,000 guests. Valamar Riviera d.d. has been in charge of managing the tourism business of the entire portfolio since 2016.
The new hotel concept is based on getting to know the true local Mediterranean lifestyle of the destination or a focus on authenticity. The brand is intended for guests seeking freedom of choice, modern design, and an authentic destination experience with full respect for nature and the environment.
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