Sunčani Hvar to Invest 50 Million Kuna in the Reconstruction of Pharos Hotel

Total Croatia News

Great news for tourism on th island of Hvar.

After almost ten years, Sunčani Hvar is starting with new investments. The management of the company announced yesterday that it will invest around 50 million kuna in the reconstruction of the Pharos Hotel. The hotel which consists of a main building with 202 rooms and an outdoor swimming pool will be converted into a luxury complex by June next year. The hotel will get facilities which are equal to a four-star hotel, but will retain its three star rating due to the size of rooms, reports on December 23, 2015.

The new Pharos Hotel will aim to attract younger guests, members of the so-called Millennial Generation, people born after 1980 whose potential till the year 2025 is recognized by all the main global hospitality leaders such as Marriott and Hyatt. The Pharos Hotel will be the first such hotel in Croatia.

Sunčani Hvar is convinced that this will improve the image of the whole destination. Pharos will be the first hotel in the Sunčani Hvar portfolio classified as a “bicycle friendly” hotel. Guests who prefer this type of tourism will be provided with storage service for bicycles, free cycling maps and an outdoor gym. President of the Board of Sunčani Hvar Gordana Tomičić emphasized that the feasibility study and project task have been fully executed within the management of the company, and that the new hotel will be completely led by locally selected management. Conceptual design for the Pharos Hotel was designed by architect Filip Kožarić, and Sunčani Hvar expects to see the first positive effects of the project as early as next year. Management estimates that on an annual basis it will bring almost 12 million kuna more in revenues than now.

At the end of 2015, the year during which the company successfully completed a pre-bankruptcy settlement and restructuring process, Sunčani Hvar management believes that the gross operating profit of nearly 68 million kuna proves that the company has entered a phase of profitable business operations.


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