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 read more

Median house values in Cairns hold despite drop in Townsville market

first_imgWhile the number of days Cairns properties are staying on the market has increased, Yvonne and James Gardner have bucked the trend, signing a contact on the sale of their Mooroobool home within a week of listing it. Picture: Marc McCormackTOURISM growth has likely contributed to a slight rise in Cairns property values over the past year, while the nearby Townsville market has experienced a decline.CoreLogic’s latest quarterly Regional Market Update report shows median house values in Cairns were up 0.9 per cent over the year to December 2016, while Townsville house values dropped 3.2 per cent. CoreLogic head researcher Cameron Kusher said that, despite the moderate increase in values, “effectively there has been no growth in the market over the last 12 months”. “The tourism sector is improving but I still don’t think there is enough confidence in that Cairns region for people to want to start moving there,” he said. He attributed the decline in Townsville house values to the market being more closely linked to mining and resources, whereas Cairns relied more on the “tourism and retirement” sectors.Unit values remained unchanged in Cairns, while Townsville unit values dropped by 3.8 per cent. More from newsCairns home ticks popular internet search terms3 days agoTen auction results from ‘active’ weekend in Cairns3 days agoMr Kusher said the general affordability of Cairns property across the board could have contributed to unit prices remaining steady.“(If) you look at Cairns, there is not a massive difference between the cost of a unit and the cost of a house and they are both reasonably ­affordable,” he said. “So it is probably a case of the people (who) are looking in that market are looking at a piece of land with a house on it, rather than the unit stock, which is more kind of holiday houses.”CORELOGIC REGIONAL UPDATE FIGURES ● 3551 houses and 1803 units sold in Cairns over the year to November, 6.1% lower than the previous year. ● Rental rates were unchanged at $380pw for houses and $290pw for units. ● Houses were offering rental returns of 5.4%, compared to an indicative rental yield of 7.4% for units ● The number of days Cairns properties stay on the market has risen by 15 days, to 96, for houses and up nine days, to 102, for units.last_img read more