ZAGREB, 9 June 2022 - The Austrian hotel and tourism group Falkensteiner (FMTG) plans to invest around €300 million in Croatia in the next five years in destinations it already operates in, Zadar and Punat on the island of Krk, the group's co-owner and executive director, Otmar Michaeler, told reporters on Thursday.

The meeting with the press was organized on the occasion of the group's 65th anniversary and Michaeler underscored that Croatia, where they have been operating in tourism since the early 2000s, is one of the most important countries for their growth out of a total of seven countries in which it does business in Europe.

"After a couple of years, we are once again investing a lot in Croatia because we see the potential for our premium products, and in addition to increasing quality in all hotels from four to five stars, we are also focusing on luxury campsites and apartment resorts," said Michaeler.

Of the total amount to be invested, about €150 million is planned in Zadar in the next few years to increase the quality and product at Punta Skala, and to raise the Hotel Didaora to five stars. A big investment is also planned at Borik, where the group plans to build a green apartment resort, on which negotiations are currently being conducted with Zadar City authorities.

Plans for its second destination in Croatia, in Punat on the island of Krk, involve an investment of €65 million to turn the current car campsite into a five-star luxury campsite. It will have 250 lots, about 150 mobile homes and an abundance of sustainable and environmental offers. Work on that camp should begin in the autumn.

The Falkensteiner Michaeler Tourism Group has a total of 30 hotels in seven countries. The group experienced difficulties in business in June 2020 as a consequence of the COVID pandemic and shortage of guests. However, the company managed to bridge that year and in 2021, particularly during the summer, it generated good results in Croatia and is once again investing, with an emphasis on sustainability and digitalization.

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