Croatian hospitality company published their business plan for period 2016 – 2020
According to their business plan for the period 2016-200 which was published on the Zagreb Stock Exchange on December 9, Liburnia Riviera Hotels are continuing with their no dividend policy and all of the profits will be reinvested both in new objects and in development.
Along with the current refurbishment of hotel Palace Bellevue, Liburnia Riviera Hotels is building a brand new 180 room hotel in Ičići. Demolition of the old object will commence in the next few days and the new family hotel is expected to open in 2017. As soon as the hotel project is concluded, they will start building their second new project – swimming pool complex Marina in Moščenićka Draga. Both projects are worth over 90 million kuna while the hotel alone is an 80 million kuna project.
There are also many other plans for refurbishments and additions to their existing objects, but since most of them depend on decisions from cities and municipalities, such as the construction of Zagreb hotel in Opatija, where they have to wait for the Master Plan changes, most of those have been put on hold.
All of these plans and projects are going ahead in spite of the fact that the company is currently in the process of selling the majority share package currently owned by SN Holding. Their official consultancy Delloite has published an international tender and first serious offers are expected to start arriving in January 2016.