A newly established tourist company in Croatia, which is a result of a merge, is only gaining and gaining in terms of its success.
As Poslovni Dnevnik writes on the 28th of June, 2019, with the entry into force of the ruling of the Commercial Court in Rijeka on June the 28th, 2019, the hotel companies Imperial and Makarska will now operate under a new name, Imperial Riviera d.d., thus completing the process of the merging of Hoteli Makarska and the Rab-based Imperium.
Both companies have successfully privatised Valamar and the AZ pension funds over the past few years. Imperial Riviera d.d. will be a joint venture company for investment and the development of tourist property within Croatia’s region, and it is expected that Croatia’s hugely successful Valamar will remain in charge of managing the company’s tourism business. The common goal of this merge is to create value added for shareholders through the overall effective management of strategic tourism activities, as well as continuous investment in the development of the company’s already impressive tourist portfolio.
Imperial Riviera currently boasts six hotels in its portfolio, as well as three tourist resorts, and two camps located in leading Croatian destinations on the island of Rab, as well as down in Dalmatia, more specifically in Makarska, which has 3,618 accommodation units and a capacity for as many as 9,000 guests at any one time, thus entering into the exclusive group of the ten largest tourist companies operating in Croatia.
Imperial Riviera d.d. will employ around 900 workers during the summer tourist season, of which 40 percent will be permanently employed, with the retention of all the acquired rights of employees in Makarska and in Rab, and the retention of all of the existing collective agreements. The business will continue to be organised with the destination in mind, thus keeping jobs in both Makarska and on Rab, and providing better conditions for further employee development in the long run.
“The intensive investment cycle launched in the previous period in Makarska and on Rab after privatisation, worth 250 million kuna, will continue in the unified enterprise on a larger scale and with much larger investment potential, which will enable increased capital investments in the future,” stated Vlado Mesi, the CEO of Imperial Riviera d.d.
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