Valamar’s Major Investment & Sustainable Tourism Strategy

The Supervisory Board of Valamar adopted a business strategy until 2026 at yesterday’s meeting. A planned investment of 450 million euros is earmarked for the construction of premium resorts in Pical and Rab, enhancing the quality of hotels and campsites, as well as internationalization and socially responsible tourism projects.

The goals of the strategy include achieving double-digit annual growth in business and company value. An operating profit of 150 million euros is expected after the implementation of initiatives, with an average annual profit growth of around 11% compared to 2022. The dividend yield for shareholders is targeted at approximately 4%.

Revenue growth to 500 million euros is forecasted, with half of it generated outside the main tourist season. Improving working conditions and increasing wages are planned, with a focus on year-round employment and retaining local workers and seasonal returnees.

The new strategy emphasizes leisure tourism as beneficial for destinations, employees, guests, and local communities. Investments will be directed towards sustainable tourism, renewable energy sources, waste management, and supporting the local community.

The first strategic project is the continuation of investment in the Pical Resort in Poreč, worth 139 million euros. The 5-star Hotel Pical will operate year-round, offering 513 accommodation units, 10 themed restaurants and bars, a wellness center, manicured beaches and beach clubs, outdoor and indoor pools, and facilities for various types of leisure. For families, Pical will offer the educational playground Maro World spanning over 1,200 m², Maro clubs, children’s playgrounds, and family-oriented entertainment programs. Additionally, there will be a range of activities for active leisure: the new Bike Center Parenzana, outdoor running trails, water sports, and an indoor 25-meter swimming pool. All sports and entertainment facilities, indoor pool, beaches, promenades, and other recreational facilities will be open to the general public, allowing guests, visitors, and local residents to use them. Pical will also introduce one of the best congress centers in Croatia with a multifunctional hall accommodating up to 1,200 participants. Completion of the works is scheduled for the end of 2025, with pre-sales, employment, and staff training commencing this year.

The second strategic project is the first phase of constructing Rab Resort 4/5* in Suha Punta, worth 54 million euros. Construction works will begin this year with the hotel opening planned for the summer of 2025. The resort will firmly position the island of Rab among the best family vacation destinations on the Adriatic. Rab Resort will offer all-inclusive services for families, with rich amenities for children of all ages covering an area of 1,000 m², including Maro Smart Play, Maro club for children aged 3 to 12, multimedia space, playrooms, and children’s playground, as well as indoor and outdoor pools. The first phase of investment includes the complete reconstruction of all 190 accommodation units of the former Eva hotel and the construction of 24 new family rooms.

Valamar plans to employ more than 9,200 workers by 2026 and will present the business strategy in more detail after the General Shareholders’ Meeting.