Tuesday, 24 September 2019

Valamar Moves Forward with Largest Project in Croatian Tourism

September 24, 2019 - Valamar Riviera is launching an investment of 790 million kuna in the Pinia Hotel in Porec this October.

Novi List writes that the largest hotel company in Croatia, Valamar Riviera, is launching an investment of 790 million kuna in the Pinia Hotel in Porec in October, as well as the completion of beaches and promenades with numerous facilities, and plans to complete it for the 2021 season, the company said on Tuesday. 

Valamar Riviera presented this investment at the Istrian Chamber in Porec on Tuesday, while also showing a model to citizens. As they point out, it is the largest project in Croatian tourism, which will engage several local businesses and craftspeople in the next year and a half.

The future Pinea Hotel will be a year-round, luxury five-star hotel, with 514 accommodation units, and will have the largest hotel 'event' center in Istria, with a congress capacity of 1,200 guests. The plan is also to create 500 full-time jobs, bring guests with higher spending power, increase consumption, extend the season, and improve the quality of beaches and promenades in the area for citizens and tourists.

"With this investment, Valamar continues with the strategy of raising the quality of its portfolio and services towards high value-added tourism. The new Pical zone is transforming Porec tourism into a higher quality one, which will ensure year-round tourism and significantly increase the tourist value of the destination. By investing in the Pical zone, beaches, promenades, and a recreational zone will be arranged and an indoor swimming pool will be built for citizens and guests of the city in accordance with Valamar's mission to develop tourism in a socially responsible and sustainable way,” said Valamar CEO Zeljko Kukurin.

The mayor of Porec, Loris Persuric, believes that this investment will stimulate a stronger development of the local economy.

Valamar also pointed out that, with the investments already made in the previous period, they plan to invest a total of 1.5 billion kuna in the Pical zone, which, in their estimation, will create one of the most attractive tourist zones in Croatia. In addition to the Pinia Hotel, this includes the Valamar Collection Marea Suites facilities opened this year, the Valamar Parentino Hotel (ex Zagreb), which will expand and further enrich the facilities for the 2020 season, as well as the existing accommodation of the Valamar Pinia Hotel.

They also announced the expansion of gourmet offerings with a variety of restaurants and bars, adding that the beaches, promenades, sports and recreational facilities in the Pical zone will see new trees, vegetation, and ornamental plants.

As part of the comprehensive landscaping of the new Pical Zone, along with the 20,000 square meters of beaches and promenades by the sea, will be a four-kilometer recreational trail, an indoor sports pool with five swimming lanes and an outdoor 50-meter tide pool, which is expected to stimulate the further development of water sports and the general development of sports in Porec. 

To read more about travel in Croatia, follow TCN's dedicated page.

Friday, 23 August 2019

Croatian Hotel Company and French Consortium to Invest in Croatia?

As Novac/Goran Penic/Barbara Ban writes on the 23rd of August, 2019, the Croatian Ministry of State Property extended the deadline for the submission of offers for the construction of a tourist complex at the location of the Hidrobaza in Pula, owned by botj the state and the City of Pula, back at the beginning of the week. Investors now have time to report their offers by October the 1st, as opposed to August the 30th, 2019.

According to the aforementioned ministry, two investors sought an extension due to the summer break, but the ministry did not disclose any names. As Novac reports unofficially, this involves the largest Croatian hotel company, Valamar Riviera, based in Poreč, Istria, which owns Camp Brioni next to Puntižela, and the French group Bouygues, whose branch in Croatia has a concession over Istria's Ypsilon.

Upon being asked about this situation, Valamar Riviera did not want to confirm or deny any information.

Valamar Riviera has remained unable to answer the question of whether or not Valamar has expressed interest in the Hidrobaza location in Pula, given that the deadline for the submission of bids is only the 30th of August.

''After the deadline for submission of offers, we will be able to answer your inquiry,'' said the largest Croatian tourist company, which is already known to the public as a large investor. This year alone, the giant Croatian hotel group has invested as much as 793 million kuna in its portfolio, and is preparing a new investment cycle of 599 million kuna for the next one. In recent years, they have invested as much as 5 billion kuna in Croatian tourism.

The French Bouygues Group has already invested in Croatia, but not in the hotel industry. They are known as dealers and contractors at the Istrian Ypsilon and at the Zagreb's new Franjo Tuđman Airport. They are currently expanding the Ypsilon on a 28-kilometre stretch from Pazin to Učka. It is an investment worth 1.237 billion kuna, which will be realised within the next three years. Projects in tourism are very close to them, though, and they have built twelve hotels across France, the Caribbean, Myanmar, Morocco, Dubai, London and Cuba.

However, despite the fact that there are two very serious names behind this project that have great references in Croatia, in the Croatian tourism sector there is still a great deal of skepticism about the realisation of it all, probably because of past experiences that have not been the most positive.

These tenders have always been extended, and until now, a concession has been given within the Brijuni Riviera only for the Katarina-Monumenti location, namely to Danko Končar, who still has not realised his meganautical project in the port of Pula to this day. A source who is very familiar with the circumstances surrounding the Brijuni Riviera project believes that the tender conditions are quite restrictive.

''One of the limiting factors is that there is a public beach in front of the future tourist facilities. If one wants to build a hotel, of course they then want to have a part of the beach as well. On top of that, some of the facilities there are under conservation protection, so the investor must adapt to that as well,'' explained Novac's interlocutor. He also stated that it should finally be understood that investors need to be offered something in order to make them actually invest, and that the beauty of the Croatian coast and Istria is not the only thing that is crucial in investment stories.

Otherwise, the Hidrobaza location covers an area of ​​281,000 square metres, and construction rights are possible for fifty years. The initial value of the annual building rights fee is 2.3 million kuna, which will be revalued every three years. The deadline for the construction of a 1200-star four-star tourist destination is five years.

Pula Mayor Boris Miletić stated that he has been formally notified of the extension of the public call, however, while the proceedings are ongoing, he claims he has no knowledge of potential interested investors or potential bids.

''Every serious investor needs some time to elaborate on their offer. For Pula and all the people of Pula, that entire area, as well as other formerly unused and decaying state-owned military areas, are of great importance and development potential. It is our interest that the state, as the owner, put them in the function of development, as this would enable the creation of new jobs and accelerate the economic growth of Pula,'' said Miletić.

He added that the new facilities and the higher standard of living of all the people of Pula is what they strive for, which can be ensured by putting neglected and unused spaces properly back into operation.

Make sure to follow our dedicated business page for more information on Croatian investments, investments in Croatian tourism, Croatian companies, and much more.

Saturday, 27 July 2019

Valamar Riviera is Record Holder for Employment in Tourism

As Poslovni Dnevnik writes on the 26th of July, 2019, Valamar Riviera has employed 7,000 employees and confirmed its prestigious status as the largest tourist company and the best employer in tourism in the whole of the Republic of Croatia.

''We're happy to have passed the large number of 7,000 employees a few days ago. Our employees are working hard during the season, which has now entered its peak. In our 34 hotels and summer resorts, as well as in our 15 summer resort camps, we take care of 58,000 guests daily. We will continue to strive to improve the conditions for our employees to justify our title as the best employer in tourism, and be a good example for other companies,'' said Ines Damjanic Šturman, Human Resources Director at Valamar Riviera.

In August, Valamar Riviera will award a special reward to all of its employees for a very successful first part of 2019's tourist season. The reward in the net amount of 500 kuna will be paid to all of Valamar's employees working both full and fixed-term contracts, who will be in a working relationship with the company on July the 31st, and who have worked for at least half a month throughout the month of July. Students who will also work for at least two weeks in July will receive a prize in the net amount of 300 kuna. The awards will be paid in August along with the regular employee salary for July.

Valamar offers the best conditions for working in tourism and guarantees all its employees minimum net salaries in the amount of 5,000 kuna to 7,500 kuna, as well as a thirteenth salary in the amount of 5,000 kuna net for all permanent employees and those who will work for at least ten months in 2019.

Additionally, all employees who work for an indefinite period of time at the time of payment, Valamar will pay 2,000 kuna net as a Christmas bonus this year, and the employees with a fixed-term who will complete the season will be rewarded Valamar's seasonal work award in the net amount from 700 to 1,500 kuna depending on the number of hours worked.

Follow our dedicated lifestyle and business pages for much more.

Thursday, 27 June 2019

Valamar Riviera Announces Plans for Croatia's Largest Summer Resort in Poreč

The Supervisory Board of Valamar Riviera d.d. has already approved the upcoming annual investment cycle of 599 million kuna. Thus, Valamar continues its intensive investment strategy to raise the quality of its portfolios and services to high-value tourism, reports HRTurizam on June 27, 2019.

Although significant, the investment cycle for 2020 is lower than in the previous years, and as highlighted by Valamar Riviera, it is because of the global slowdown in market demand and rising operating costs.

However, the big news surrounding the new investment cycle is the announcement of the largest Croatian summer resort with a total value of 790 million kuna, which was presented on Thursday in Poreč.

The Poreč hotel Pical 2* will be wholly transformed into a luxury five-star resort with about 500 accommodation units. The resort, which will accommodate as many as 1,700 guests, will have seven bars and seven restaurants, 2,200 square meter swimming pools, the Sundance beach club, indoor pool and wellness center, Maro family facilities and perhaps the most important - a congress center for 1,200 guests.

Valamar_vizualizacija-investicije-2-1024x576.jpeg

The construction of this summer resort is the most significant single investment in Croatian tourism, and the completion of the investment is planned for 2021. Valamar continues to invest in the Pical area, which together with the Valamar Collection Marea Suites 5*, which opened this year, will become the top of Poreč tourism and one of the most attractive tourist areas in Croatia.

"Valamar has successfully realized investments and business goals set for the past three years and is now moving into a new phase of development. We plan to continue developing our business following our formula of success based on investing in employees, products, and destinations, with sustainable development and socially responsible business. However, it is still necessary to work on the overall competitiveness of Croatian tourism compared to other destinations in the Mediterranean if we want to strengthen the investment potential of the tourism sector and keep our employees in tourism in Croatia,” said Željko Kukurin, Chairman of the Board of Valamar Riviera.

Valamar has successfully realized all this year's investments worth 793 million kuna. Thus, Valamar has invested a total of 5.8 billion kuna in Croatian tourism.

By the end of this year, a new development strategy will be presented for the next three-year period, and thus continue to realize the vision of leaders in holiday tourism that, in partnership with destinations, provides authentic guests experiences, concludes Valamar.

To read more about travel in Croatia, follow TCN’s dedicated page

Tuesday, 13 November 2018

Valamar Riviera Celebrates at World Luxury Hotel Awards for Third Consecutive Year

Valamar Riviera does it again! 

Thursday, 18 October 2018

Valamar Riviera, Atlantic and Croatian Telecom Have Best Relations With Investors

Awards for Croatian companies for their relations with investors.

Monday, 10 September 2018

Leading Tourist Company Announces Massive Investment and New Job Opportunities

A 178 million kuna investment is on the cards for one leading company.

Friday, 27 July 2018

Valamar Wants to Acquire Austrian Hotel?

The internationalisation of Valamar's business takes its first step in Austria.

Tuesday, 1 May 2018

Valamar's Investments for 2018 Worth Around 700 Million Kuna

This year, Valamar has opened up to 600 new jobs and will employ about 6,600 employees from Istria and Kvarner all the way down to Dubrovnik.

Wednesday, 11 April 2018

From Istria to Dubrovnik: Valamar Will Donate More Than 1000 Overnight Stays to Kids

Valamar's big heart will beat for the kids once again this year.

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