ZAGREB, March 3, 2019 – Valamar Riviera earned 276.4 million euro in total revenues in 2018 or 11% more than in 2017, according to the audited annual results which this leading hotel company has recently published.
The company’s total expenditure was 1.79 billion kuna, rising 11.6% from 2017.
“Total overnights reached 6.5 million growing 4.6% compared to the same period last year, while the average rate grew by 5%,” the company says in a press release.
“In 2018, operating profit adjusted for one-off items increased by 13% to 94.8 million euro as a result of previous investments in portfolio repositioning and expansion as well as successfully balancing operating efficiency with increasing payroll and improving employee working conditions.
Valamar boasts that it has invested over 539 million euro in Croatian tourism so far.
“Investments worth 107 million euro are under way for the 2019 season as a continuation of Valamar’s investment strategy to reposition the hospitality portfolio towards premium products and services”.
More news on Croatian tourism can be found in the Travel section.