Sustainable Croatian Tourism: Valamar Announces New Investment Cycle

Lauren Simmonds

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As Poslovni Dnevnik writes, following on from the finalisation of the second phase of the capital increase in Imperial Riviera worth a massive 690 million kuna, the Supervisory Boards of the Valamar Group companies approved the transfer of three hotels down in Dubrovnik from Valamar Riviera to Imperial Riviera, a joint venture for Valamar and Allianz ZB for the management of mandatory and voluntary pension funds.

This capital increase and the transfer of the hotel to Imperial aims to accelerate significant investments in the reconstruction and further construction of resorts in the destinations of Dubrovnik, Makarska and Rab, for which Imperial has planned 2.1 billion kuna over a five-year period. Soon enough, the Valamar Group will launch investments totaling 500 million kuna in hotel and tourist facilities and facilities managed by Valamar.

Sustainable Croatian tourism, more precisely ”green” tourism, and digital transformation, as well as investments in the premium segment, will form the backbone of the development of Valamar’s portfolio in the coming period. In order to implement investments and transform their business, the management of the Valamar Group will be reorganised, for which the top management was given a mandate until 2026.

President of the Management Board Zeljko Kukurin and member of the Management Board Marko Cizmek have been reappointed for a new five-year term, while former Vice President Ivana Budin Arhanic has been appointed to the Valamar Riviera Management Board with a focus on further internationalisation, sustainable Croatian tourism and business digitalisation.

Alen Benkovic has been appointed President of the Management Board of Imperial, and is set to become Senior Vice President of the Valamar Investment Group. Davor Brenko has been appointed Senior Vice President of the Valamar Sales and Marketing Group with a focus on product development and increasing direct sales. David Poropat will take over the position of Senior Vice President of Operations with a focus on strategic partnerships and service management.

Sebastian Palma has been appointed to a new term as a member of the Board of Finance for Imperial Riviera and becomes Vice President of the Strategic Controlling Group. Ines Damjanic Sturman has been appointed Vice President for Human Resources Development as a strategic function in Valamar’s business, and Tomislav Dumancic is becoming Vice President for Dubrovnik and Dalmatia, where significant investments are planned in the coming period. Vlado Mis, the current President of the Management Board of Imperial Riviera, will become an Advisor to the Management Board and Director of the destination of Rab.

Croatian sustainable tourism is something that will allow the country to escape from the binds of the classic ”three months of sea and sunshine” that it has been embedded in ever since tourism took off here following independence. Given that this little country has so much to offer and diversity like few others, making this move could place it firmly on the year-round tourism map and allow for a far more stable economy.

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