As Marija Crnjak/Poslovni Dnevnik writes, over the next half a decade, the Zadar Turistihotel plans to invest 113 million euros in the renovation and construction of new accommodation facilities and entertainment, which was approved by the company’s Supervisory Board and presented by the Management Board on Tuesday at the first open day for Turisthotel shareholders.
Financial strength
“Since we started with the construction of a new entertainment and catering and establishment on the beach, which is worth more than 8.7 million euros, Zaton has been a large construction site. At the Zadar Turisthotel, we haven’t had any significant investments since back 2018, and we recently adopted a strategic capital investment plan for the next five-year period with the aim of increasing the quality of our offer and content, higher revenues and ensuring the further growth and development of the company.
The Zadar Turisthotel has managed to enjoy significant financial stability, liquidity and creditworthiness, and we’re confident that, as long as there are no major global disturbances and instability, we’ll manage to realise our plans. In order to ensure success and future growth, we must invest in our offer, our employees and the destination as a whole, all while making sure we’re engaging in sustainable and socially responsible development,” explained Meri Matesic Sicic, the president of the Turisthotel Management Board, adding that the legislative and tax framework is stable and encouraging, as is the financial stability of the company, which remains the basis for planning and implementing new investments in tourism.
Annual figures
The new investment cycle of the Zadar Turisthotel will include the additional improvement and raising the quality of its existing facilities, new catering, hospitality and entertainment facilities, the complete remodeling of the main street within the resort, the reconstruction of the remaining apartments from 3 to 4 stars, the construction and introduction of new facilities, and the Aenona Park project, which includes a new camp, hotel and sport and entertainment facilities in the northern part of the settlement in Zaton.
In Zadar, there are also plans to build a city hotel located within the city centre on the site of the former Pobjeda (Victory) cinema, and to convert the Boutique Hostel Forum into a hotel. According to the plan, Turisthotel will annually invest approximately 22 million euros in those new projects.
As is already fairly well known, the Zadar-based shipping company Tankerska plovidba entered Turisthotel back at the beginning of November, becoming the largest single shareholder of the company by purchasing 24.53 percent of the shares. With the transaction, former longtime director Frane Skoblar dropped to second place with 11.8 percent, and the rest of the shares are held by around 600 small shareholders.
Mario Pavic, the president of Tankerska plovidba, explained that the company wants to diversify its operations as part of its long-term strategy of alignment with the global direction of decarbonisation, although the core business remains shipping. As the largest single shareholder, they plan to coordinate with the co-owners the way the company will be managed as we go forward.
For more, check out our business section.
