Valamar investing HRK 873 million in Croatia this year

ZAGREB, 11.6.2017.

Valamar Riviera is investing a total of 873 million kuna in more than 300 projects in Croatia throughout 2017, and this major Croatian hospitality company is set to invest a two billion kuna until 2020, the Valamar Riviera management board chairman, Zeljko Kukurin, has recently said in a statement to reporters.

"We have decided to step up investments due to a favourable situation on the capital markets and low interest rates as well as thank to rising demand, despite adverse political effects on tourism and an increase in taxes," Kukurin said at a news conference before the official opening of the Family Life Bellevue and Girandella resort facilities at Rabac, Istria.

The company invested over 560 million kuna in the seven-month-long reconstruction of its Family Life Bellevue Resort and Valamar Girandella Resort.

The renovated facilities will employ 630 workers, according to Kukurin.

"This year we are employing 5,300 workers in all our facilities. Many of them are from local communities and some are from the interior of Croatia," Kukurin said.

Asked whether the developments surrounding the Agrokor food and retail concern would affect Valamar's operations, Kukurin said that Agrokor was so big that it had its effect on everything, however, only adriatica.net had deeper business relations with Agrokor.

Valamar Riviera is a member of the Valamar Group, which is "the leading tourism group in Croatia, encompassing 10 percent of the country’s categorised accommodation capacity. Its hotels, apartment villages and campsites are situated on the Adriatic coast and can simultaneously accommodate more than 48,000 guests," the group boasts on its web site. 

(EUR 1 = HRK 7.4)