In 2023, Valamar achieved business growth with the impact of inflation on increasing costs

In 2023, Valamar expects achieve between 374 and 378 million euros in operating income that is, annual revenue growth of 15 to 16% as a result of multi-year investments in repositioning the portfolio and raising the level of service quality.

A slower growth in operating profit is expected, between 4 and 6% to the level of 107 to 109 million euros due to extremely high inflation in the supply chain and around 20 million euros of additional investments in employee benefits and rewards. In the first nine months, business income grew by 13% with an increase in average price (ARR) by 14,2%.

They recorded the best results premium products and services and the camping segment. In the pre-season, i.e. the first six months of the year, there was a 17% increase in business income compared to the same period in 2022, especially in northern destinations, while the slower recovery of the Dubrovnik destination was influenced by a slightly lower number of air flights in the pre-season and reduced volume conference and business segment. Investments in improving the quality of three hotels in Dubrovnik, as well as the new Maro World, the largest family entertainment center on the Adriatic, have been very well received on the market for family vacations.  

Valamar has successfully realized investments for the 2022/2023 season. in the total amount of EUR 58 million, of which the largest investment of EUR 32 million refers to the destination of Dubrovnik. The investment in the Istra Premium Camping Resort 5* in Funtana, a sustainable product with high added value for both Valamar and the local community, has been finalized.

Valamar is in camp Istra invested 81 million euros in the past seven years, which includes 7 million euros of investment in public tourist infrastructure, landscaping of beaches, promenades, roads, playgrounds and other facilities that are open for use by the local community. It is again started investment in the construction of the Pical hotel, started in 2019 and suspended in 2020 due to the pandemic. It is about the construction project of a luxurious year-round five-star resort worth a total of 130 million euros, the largest single investment in Croatian tourism, which will make the Pical zone in Poreč one of the most attractive tourist zones in Croatia.

At the beginning of December, Valamar opens a renovated i rebranded Obertauern [PLACES] hotel, placing it as the third in a series of [PLACES] hotels in the portfolio aimed at modern travelers who want flexibility of service, socializing and entertainment. In this way, Valamar completes its presence in Austrian Obertauern with three unique hotels under three different brands.

For the 2023 season, Valamar has invested an additional 20 million euros in employee benefits, salary increases, awards, education and programs aimed at increasing the quality of life of employees in the destination. As the most desirable employer in tourism, Valamar continuously invests in improving working conditions for its employees and implements a series of reward programs that reward excellence, commitment and outstanding results.

Valamar continued to invest in initiatives within the sustainability strategy and joined this year UN Global Compact, the world's largest initiative for sustainable development and corporate sustainability, as well as the international Science Based Targets initiative with the aim of significantly reducing greenhouse gas emissions. Valamar has also launched new socially responsible projects, notably the donation of Valfresco meals to schools in Labin and the opening of a new city kindergarten in Poreč, which can also be attended by the children of Valamar employees.