Valamar has announced that its Supervisory Board has approved the Business Plan for 2023, which includes capital investments of HRK 195.5m (EUR 25.95m).

At its Supervisory Board Meeting, Valamar announced the approval of the Business Plan (Budget) for 2023, which includes capital investments in the planned amount of HRK 195.5m (EUR 25.95m). Most of the approved investments relate to the continued investment in Istra Premium Camping Resort and other investment projects in product maintenance and improvement in all destinations, as well as continued investments in digitalization, energy efficiency, and sustainability projects.

The Company notes that given the importance of sustainable and socially responsible business, investments in sustainability, such as green construction, the use of renewable energy sources, and high level of energy efficiency, they will continue to pay special attention to these business segments in the planning and realization of capital investments.

We would also like to note that recently, the Supervisory Board of Imperial Riviera, a subsidiary of Valamar Riviera, also announced the approval of its Business Plan, which includes capital investments of HRK 237.8m (EUR 31.56m). The capital investments for the most part will be made into the renovation and rebranding of Valamar Tirena Hotel into a 4*, rebranding of Valamar Club Dubrovnik hotel on the Sunny Plus brand level. Investments will also be made into Valamar Lacroma Hotel and Maro World in Dubrovnik, as well as digitalization, sustainability, and improvement of products.

Valamar Riviera share price (2020 – 2022 YTD, HRK)

Source: Bloomberg, InterCapital Research