November the 16th, 2022 - The Israeli Brown Hotels group has taken over the Rijeka-based Jadran Hotels, becoming the new majority owner of the company which boasts numerous hotels and other facilities. Ambitious plans are now in the works.

As Poslovni Dnevnik writes, the Israeli investor Brown Hotels Group is officially the new majority owner of Jadran Hotels from Rijeka, which includes seven hotels, two restaurants and a campsite in the wider Kvarner area, including Rijeka, Kostrena and Kraljevica.

The investors intend to carry out a comprehensive rebranding process at all seven locations where facilities owned by Jadran Hotels are currently located. This is otherwise their second investment in the Republic of Croatia, they are the owners of Trogir's Brown Beach House Hotel, and they bought Jadran Hotels from Ivan Franolic and Zoran Lustica.

"The potential of Rijeka as a city are absolutely enormous, we are convinced that it can become an important tourist centre in both the Croatian and global contexts and a destination that will attract tourists from all over the world. This is strongly supported by the significant investments made by foreign investors in the wider Rijeka area," stressed Leon Avigad, the founder and co-owner of the Israeli Brown Hotels Group, which also operates in Germany, Cyprus, Greece and of course outside of Europe in Israel.

In the coming period, the Israeli Brown Group will implement its model of lifestyle, cultural and nightlife attractions, along with bringing in internationally famous restaurant chefs, attractive rooftop bars, clubs, swimming pools, spa zones and other similar recreational activities.

The first focus of the new owners will be on three hotels: Continental, which will be renamed Brown Continental Rijeka, Jadran, which will become Brown Beach Jadran Rijeka, and Neboder, which will become Brown Lighthouse Rijeka.

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As Suzana Varosanec/Poslovni Dnevnik writes on the 29th of May, 2020, the largest hotelier on the Crikvenica Riviera, Jadran is a company with a total of nine solid buildings in the hotel segment, and along with its bungalows and pavilions, boasts 2,500 beds. After the lockdown, they plan to raise their occupancy to the level of 600 to 700 beds by the end of June, ie to 25 percent of its hotel accommodation capacities.

The first hotel guests are expected this weekend at the Esplanade Hotel in the very centre of Crikvenica. It is a boutique hotel with 27 rooms and 11 suites where special attention will be paid to personalised services; namely, in addition to a large terrace that provides the possibility of a distant and safe stay for lunch, the Crikvenica-based company pointed out that if guests want complete security and privacy without incurring any extra charges, they can order room service.

The Garden Palace Resort in Umag is announced to open on June the 10th, and on June the 19th, the family hotel Lišanj in Novi Vinodolski will open. The President of the Management Board of Jadran, Goran Fabris, stated that they are also ready to open the Slaven Hotel in Selce.

"We're in daily communication with our partners who are waiting for the final confirmation of defining the conditions of bus transport," explained Fabris, adding that the main guests in June at the hotel are organised groups from Germany, the Czech Republic, Slovakia and Hungary.

The abolition of restrictions on the movement of citizens and the opening of borders with Slovenia and Austria, along with the intensification of accommodation reservations, has already encouraged the start of operations for Jadran's camps. The first guests, mostly Slovenes were welcomed to Selce last Friday. Given the expected booking trends, as it turns out, the camp in Selce could manage to gain 80 percent of last August's traffic, and the hotels could still grab between 35 percent and 40 percent of the traffic from the same period..

July could bring a third of the amount of traffic as July 2019 in solid buildings and 50 percent in camps. Camp Kacjak has already opened, and in a week from now, Camp Basko Polje, where bungalows and mobile homes are equipped with their own kitchens, will also open its doors.

This year's total investments in the improvement of this Crikvenica-based company's capacities amount to a massive 10 million euros, which is less than planned because the company stopped the investment cycle in order to preserve liquidity in these trying times.

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Throughout the first nine months of 2019, the Crikvenica Jadran hotel company's accommodation revenue increased by eighteen percent when compared to the same period in 2018.

As Poslovni Dnevnik/Suzana Varosanec writes on the 20th of February, 2020, after having concluded a long-term loan agreement in December in the amount of 13.4 million euros for financing investments, the Crikvenica Jadran hotel company is continuing its already started business expansion.

Based on several lease agreements they have concluded, the company has just transferred its leased accommodation capacities in several hotels located in Novi Vinodolski, Baška Voda and Umag. They announced this through the Zagreb Stock Exchange, adding that through the handover, the Crikvenica Jadran hotel company had increased its accommodation capacity by as many as 403 units.

As such, the Crikvenica Jadran hotel company will now enter two more hotels in Novi Vinodolski, namely Hotel Lišanj, with a capacity of 168 accommodation units and the Hotel Horizont, with a capacity of 60 accommodation units. Their business is also expanding through the lease of the Noemia Hotel in Baška Voda with a capacity of 63 units, and the Garden Palace Resort Bella Natura in Umag, with a capacity of 112 units - apartments.

The lease agreement for Hotel Lišanj and Hotel Horizont, as has been said, was concluded for a period of three years, starting from the day of conclusion or the handover of the hotel. The lease agreement for the Noemia Hotel has been concluded for a period of fifteen years, beginning from the date of the start of the lease on the 1st of April, 2020.

According to the latest indicators, in the period from January to September 2019, the Crikvenica Jadran hotel company achieved impressive total operating revenues in the amount of 101.3 million kuna, which is 22 percent more than in the same period last year.

During the first nine months of 2019, accommodation revenue increased by 18 percent when compared to the same period back in 2018, with particular emphasis placed on revenue growth in August when all newly renovated facilities were operational and marked an increase in accommodation revenue of 37 percent.

In the first three quarters of 2019, rental income increased by 51 percent when compared to the previous year, and revenue growth was largely the result of a new investment cycle, which, along with increasing competitiveness, ie, improving the quality of facilities and services, made it possible to increase prices.

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