Valamar Riviera achieves revenue growth of 17 percent and overnight stay growth of 20%

first_imgIn the first nine months of 2017, Valamar Riviera dd from Poreč, the leading tourist company in Croatia, generated HRK 1.740 million in total consolidated operating revenues, which is an increase of 17 percent compared to the same period last year. In the same period, operating profit or adjusted EBITDA grew by 19%.The strong revenue growth is primarily the result of a 20% increase in overnight stays and an increase in the average price of 6%. Significant added value for shareholders was realized, ie the company’s value increased by 26% as a result of the growth of market capitalization, so the current value of the company is HRK 7,2 billion, Valamar points out, and announces that in 2017 they expect to achieve between HRK 1.755 and 1.775 million operating income, ie growth of 17,9% to 19,2% compared to last year. “Revenue growth will be accompanied by strong growth in consolidated operating profit (EBITDA), which will reach between HRK 600 and 610 million annually, which is HRK 87 to 97 million more than Valamar Riviera achieved in 2016. ” pointed out Željko Kukurin, President of the Management Board of Valamar Riviera.In 2017, the announced largest annual investment cycle Valamar Riviere worth more than 900 million kuna was successfully completed, most of which was related to repositioning projects in Rabac, ie the construction of two resorts – Family Life Bellevue Resort 4 * and Valamar Girandella Resort 4 * / 5 * with continued investment in raising the quality of campsites according to the segment of higher added value. “The business results achieved in the first nine months of this year are a confirmation of the success of Valamar Riviera’s growth and development strategy, which is based on continuous investments in products, employees and destinations with the aim of creating added value for shareholders and other stakeholders. For the third year in a row, we are achieving strong growth in business results and quality, and accordingly Valamar’s market capitalization is growing at an average annual rate of more than 30%, with progressive growth in wages and employment. This year alone, we have invested more than 900 million kuna and created more than 1.000 new jobs, and I thank all the shareholders, employees, partners and destinations who participated in this strong step forward.. “Kukurin concluded.In accordance with the announced three-year investment cycle with a total value of up to HRK 2 billion by 2020, Valamar Riviera plans to continue intensive investments in 2018, the final decision on which will be made in early December 2017.Hotels and camps Valamar Riviere the best in CroatiaAt the Days of Croatian Tourism, Valamar’s hotels and camps won new awards, and Valamar Girandella Resort was named the investment of the year.In the category of the best hotels and camps, five Valamar hotels and one camp were awarded. The award for the best congress hotel went to the Valamar Lacroma Dubrovnik 4 * + hotel, while in the four-star hotel category, the best hotel was Valamar Diamant from Poreč. In the family holiday category, Valamar had two nominations – Valamar Isabella Island Resort 4 * / 5 *, which won first place, and Valamar Club Tamaris 4 *, which won third place.Valamar also won the award for the best large camp, which went to Camping Resort Lanterna 4 *, as well as a special recognition Valamar Girandella Resort 4 * / 5 * in Rabac was declared the hotel investment of the year.last_img

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