November 11. 2018 – The road has been long and complicated, but Valamar seems to be one step closer to its plan of transforming Stari Grad’s ailing hotels into a 4-star paradise.
An important milestone for the future of the hotels of Stari Grad on Hvar this week, as the Zagreb Stock Exchange reported on Valamar Hotels announcement that the court has accepted the bankruptcy plan of the Helios hotel group submitted by Valamar and PBZ. Speaking to sources familiar with the discussions, it seems that the high trade court is expected to ratify this decision early next year, after which Valamar can move forward with its plans to completely redevelop Stari Grad’s hotels which are located in prime positions in the historic island town.
If Valamar does succeed with its plans, it will be a major boost for Stari Grad, which is slowly emergy as a high-quality destination with a focus on quality not party. Mayor Antonio Skarpa recently prohibited the opening of any more hostels in Stari Grad, and the Valamar 4-star hotels would be one of three great additions to the town’s hospitality scene, should they all come to fruition.
On the other side of the bay, close to the main ferry terminal, construction on the luxury Olive Bay Resort, a residential complex with two boutique five-star hotels, has already commenced, while the 140 million euro Brizenica Bay resort, complete with the Four Seasons brand, is seemingly making a little progress, with an agreement on the access road finally signed. Should all three projects come to fruition, and with Stari Grad’s intention to avoid being branded as a party destination, the future of luxury tourism on Hvar may move more from Hvar Town to central Hvar
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