Valamar Riviera from Poreč, the leading tourism company in Croatia, achieved consolidated business revenues of 1.223 billion kuna in the first nine months of 2015, representing a 20 percent increase compared to the same period last year. The consolidated operating profit (EBITDA) for the first nine months amounts to 556 million kuna, which is 45 percent higher than the same period last year.
The strong revenue growth in the first nine months is a result of a 15.3 percent increase in the number of overnight stays and a nearly 7 percent increase in the average price per comparable accommodation unit. Additionally, the average guest spending has increased as a result of continuous activities aimed at enhancing quality and product development through achieved investments and development. In 2015, the investment cycle in the existing portfolio worth 354 million kuna was completed, and the largest investment this year, Valamar Isabella Island Resort 4*, has achieved excellent results this season.
In the portfolio structure, the highest revenue growth of 20 percent was achieved by 4 and 5-star hotels and apartments, confirming that continuous investments in increasing the competitiveness of tourism products, innovation, and quality are one of the key factors for successful and sustainable business in tourism.
According to the Management Report published on October 27, Valamar Riviera expects to achieve between 1.270 and 1.290 billion kuna in business revenues in 2015, representing a growth of 15.7 to 17.6 percent compared to last year. Revenue growth will also be accompanied by strong growth in consolidated operating profit (EBITDA), which will reach between 405 and 415 million kuna on an annual basis, an increase of 121 to 131 million kuna, or up to 46 percent higher than last year.
