Throughout the first nine months of 2019, the Crikvenica Jadran hotel company’s accommodation revenue increased by eighteen percent when compared to the same period in 2018.
As Poslovni Dnevnik/Suzana Varosanec writes on the 20th of February, 2020, after having concluded a long-term loan agreement in December in the amount of 13.4 million euros for financing investments, the Crikvenica Jadran hotel company is continuing its already started business expansion.
Based on several lease agreements they have concluded, the company has just transferred its leased accommodation capacities in several hotels located in Novi Vinodolski, Baška Voda and Umag. They announced this through the Zagreb Stock Exchange, adding that through the handover, the Crikvenica Jadran hotel company had increased its accommodation capacity by as many as 403 units.
As such, the Crikvenica Jadran hotel company will now enter two more hotels in Novi Vinodolski, namely Hotel Lišanj, with a capacity of 168 accommodation units and the Hotel Horizont, with a capacity of 60 accommodation units. Their business is also expanding through the lease of the Noemia Hotel in Baška Voda with a capacity of 63 units, and the Garden Palace Resort Bella Natura in Umag, with a capacity of 112 units – apartments.
The lease agreement for Hotel Lišanj and Hotel Horizont, as has been said, was concluded for a period of three years, starting from the day of conclusion or the handover of the hotel. The lease agreement for the Noemia Hotel has been concluded for a period of fifteen years, beginning from the date of the start of the lease on the 1st of April, 2020.
According to the latest indicators, in the period from January to September 2019, the Crikvenica Jadran hotel company achieved impressive total operating revenues in the amount of 101.3 million kuna, which is 22 percent more than in the same period last year.
During the first nine months of 2019, accommodation revenue increased by 18 percent when compared to the same period back in 2018, with particular emphasis placed on revenue growth in August when all newly renovated facilities were operational and marked an increase in accommodation revenue of 37 percent.
In the first three quarters of 2019, rental income increased by 51 percent when compared to the previous year, and revenue growth was largely the result of a new investment cycle, which, along with increasing competitiveness, ie, improving the quality of facilities and services, made it possible to increase prices.
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