The Supervisory Board of Imperial Riviere dd approved HRK 67 million investment in the repositioning of the Dalmacija Hotel in Makarska in [PLACESHOTEL] by Valamar.
The investment is a continuation of the announced five-year cycle of investments in Croatian tourism worth 1,5 billion kuna, which was jointly launched by AZ pension funds and Valamar Riviera.
The Covid crisis has temporarily halted and slowed down the investment plan, which is why investments started in 2019 were finalized only in 2021, but the approval of investments in the Hotel Dalmacija represents a partial restart of the investment cycle. Namely, the tourist season showed the potential for a rapid launch of Croatian tourism and the opportunity for further growth and development of high value-added tourism, so the Imperial Riviera decided to accelerate the investment cycle.
After the successful privatization of Imperial and Hoteli Makarska, and the subsequent merger and increase of capital in Imperial Riviera, investments in the total amount of HRK 580 million were made in the past period and the following hotels were repositioned: Parentino, Meteor, Padova, Imperial and Padova.
With an investment of 67 million kuna, Hotel Dalmacija will undergo a complete reconstruction and refurbishment in accordance with the standards Valamar [PLACES] brenda.
From next season, Hotel Dalmacija in Makarska will become the second hotel to operate under Valamar [PLACES] brand. The new concept is designed for modern travelers seeking freedom of choice, modern design and an authentic destination experience with full respect for nature and the environment.
Imperial Riviera has in its portfolio seven hotels, three tourist resorts and two camps in the leading Croatian destinations island of Rab, Porec and Makarska, which makes a total of 3.498 accommodation units and a capacity to accommodate almost 10.000 guests. Since 2016, Valamar Riviera dd has been in charge of managing the tourism business of the entire portfolio.
The new hotel concept is based on getting to know the true local Mediterranean lifestyle destination or focus on authenticity, and the brand is intended for guests seeking freedom of choice, modern design and an authentic destination experience with full respect for nature and the environment. More about Valamar [PLACES] find out the brand in the attachment.