The company started opening its properties as of 22 May with Lanterna Premium Camping Resort Poreč and restaurant La Pentola in Rabac. The other 12 camps in Istria and Kvarner will open by the end of May.

Valamar Riviera published an announcement on the Zagreb Stock Exchange stating that the company started opening its properties as of 22 May with Lanterna Premium Camping Resort Poreč and restaurant La Pentola in Rabac.  The other twelve Valamar camps in Istria and Kvarner will open by the end of May.

The opening of Istra Premium Camping Resort is planned for  15 June after completion of investments, while hotels and resorts are planned to gradually open during June which is consistent with the opening of borders and the normalization of travel from leading source markets.

The opening of Valamar’s properties follows the plan to open the summer season in Croatia announced by the Ministry of Tourism and facilitated by the opening of borders during May and June for Slovenia, Austria, Hungary, the Czech Republic, Slovakia, Germany and Poland which make up almost 60% of Croatia’s leading source markets.

It is worth noting that the market reacted positively with such news, as RIVP ended the trading day yesterday at HRK 25.8, representing an increase of 3.2%.  At the current share price, Valamar Riviera is traded at a P/E of 14.1 and EV/EBITDA of 8.4.