Valamar took 50m-euro loans for investments

first_imgAn intensive investment cycle is planned for next year on the island of Rab in the total value of 140 million kuna, and includes investment in Valamar Carolina Hotel & Villas 4 * in partnership with TUI Sensimar brand, development of family facilities and services in Hotel Valamar Padova 4 * and investment to Camp Padova, which will earn 4 * and the prestigious Premium Camping Resort brand label Camping Adriatic by Valamar.  RELATED NEWS: VALAMAR COMPLETES PROCESS OF TAKING OVER HOTEL IN AUSTRIAN OBERTAUERN Namely, last week Valamar Riviera dd concluded a loan agreement with OTP banka Hrvatska dionicko društvo from Split and OTP Bank Nyrt from Budapest in the total amount of EUR 40 million to finance the Company’s long-term investments. Thus, in a week, Valamar agreed on loans in the amount of EUR 50 million. Investment projects in 2019 are focused on repositioning the portfolio according to high value-added offers and services. Valamar Riviera will thus complete the three-year investment cycle worth more than HRK 2 billion, which was envisaged within Valamar’s business growth and development strategy until 2020.  Valamar Riviera announced through the Zagreb Stock Exchange that it has entered into another loan agreement with Erste & Steiermärkische bank dd in the amount of EUR 10 million to finance the Company’s long-term investments. Valama Riviera signed another loan agreement. center_img Photo: Valamar In the Makarska hotels that Valamar took over this year, in 2019 it is planned to invest in the quality and contents of the Meteor hotel, which will operate under the Valamar Hotels & Resorts brand next season. One of the biggest investments in 2019 is the investment in Camp Istra, which will become the first large 5 * camp in Croatia next season, the opening of the luxury family hotel Valamar Collection Marea Suites 5 * in Poreč and the development of many other additional facilities and service concepts in other camps, hotels and resorts of Valamar. The plan is to continue significant investments in accommodation for seasonal employees in accordance with Valamar’s strategic goals.  By the way, the Supervisory Board of the largest Croatian tourist company Valamar Riviere has approved the next investment cycle, which will bring the total investment in Valamar’s destinations 793 million kuna in 2019. year.last_img

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