Two companies with their seats in Istria saw outstanding results in 2017.
As Poslovni Dnevnik/Marija Crnjak writes on the 28th of February, 2018, although all tourism companies experienced significant growth last year, in 2017, two of them headquartered in Istria stood out from the rest.
The two companies are Poreč Riviera, which repeated its double digit growth trend and continued the investment cycle with record-breaking employment, and the Arena Hospitality Group, which recently collected a record amount of shares on the international market and became the first domestic company with a portfolio abroad.
High revenues continue to put the popular and well-known Valamar Riviera in a comfortable position, with 1.84 billion kuna, which is 17 percent more than back in 2016.
Revenue growth is primarily related to overnight stay increase of 20 percent and an average increase of 6.4 percent. A strong growth in operating profit of 20 percent was achieved, at a level of 623 million kuna, with an increase in operational efficiency and a customised EBITDA margin of 35 percent.
Arena, with revenues of 717 million kuna last year, saw growth of 65%. The annual report highlights a 39% increase in revenue per room (REVPAR) of 298 kuna, with an average price of 560 kuna.
“That was a year which was full of corporate activities. The growth in revenue is a result of the fact that for the first time, the business results of the Arena Hospitality Group included the consolidated results of our hotels in Germany and Hungary,” they state from the company which also saw significant organic growth in Croatia, where total revenues grew by 8.5 percent, to 669.6 million kuna.
Another good business year in the company’s more recent history has been experienced by Plava Laguna (Blue Lagoon), the consolidated report of which saw a 5.5 percent increase in the number of overnight stays last year, with total revenues of an impressive 1.14 billion kuna.