In the first quarter of 2019, Valamar Riviera recorded 53 million kuna in total revenue and seven million kuna more in sales revenue than in the first quarter of 2018. The tourist company said this is mostly the result of the successful first winter season of the Valamar Obertauern Hotel and that, due to the move of the Easter holidays to the second quarter and the small share of revenues realized by Valamar in the first quarter, the results are not indicative, reports Večernji List on May 3, 2019.
The company is currently finalizing this year’s investments worth 793 million kuna, which represents a continuation of its investment strategy in Croatian tourism, within which Valamar has invested more than five billion kuna. The most significant investment projects are two newest high-end facilities, Istra Premium Camping Resort 5* and Valamar Collection Marea Suites 5* in Poreč in Istria, which are due to open in June and which have already been well received on the market.
“We expect a successful and timely opening of all of this year’s investment projects, and we are happy with the business results achieved at the beginning of the season during the Easter holidays. The demand is satisfactory, especially for the accommodation facilities we have invested in, but we expect a challenging tourist season given the global trends and increased competitiveness of certain destinations, especially in the Mediterranean,” says Željko Kukurin, CEO of Valamar Riviera.
This year, Valamar opened about 400 new jobs and will employ more than 7,000 employees from Istria and Kvarner to Dubrovnik. Valamar has been rated as the best employer in tourism and the only tourism company that, according to independent research, is among the top 20 employers in Croatia. It guarantees its employees minimum net earnings in the amount of 5,000 to 7,500 kuna for the full monthly workload, special season bonuses, the 13th salary and the Christmas bonus.
Since April, the shares of Valamar Riviera have been included on the Zagreb Stock Exchange’s leading market, which the company considers to be an additional confirmation of Valamar’s high level of business and financial success, transparency and good corporate governance.
Translated from Večernji List (reported by Radmila Kovačević).
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