October the 31st, 2021 - The well known Adris Group is set to invest a large sum into the renovation of several Zagreb hotels, as well as into the famous Hotel Marjan down in the City of Split.

As Poslovni Dnevnik/Ana Blaskovic writes, the Adris Group's net profit reached a massive 605 million kuna in the first nine months of this year, compared to a considerably lower figure of 141 million kuna last year, and total revenues rose to 4.51 billion kuna (marking a significant increase of 23 percent), they announced from Adris.

At the same time, the income from the sale of goods and services increased by a quarter, reaching a staggering 4.18 billion kuna. Consolidated profit before interest, taxes, depreciation and amortisation (EBITDA) also stands at 1.065 billion kuna, three percent below the pre-crisis levels of 2019. The ongoing coronavirus pandemic continues to leave its traces on the results of the tourism business, Maistra, although a recovery was recorded in the main part of this year's main tourist season which is promising.

The company recorded 1.2 billion kuna in revenue from sales of goods and services, 79 percent of the figure recorded from back in 2019. EBITDA stood at 602 million kuna, reaching 85 percent of what was realised before the global pandemic struck, as well as net profit 360 million kuna in total. The Istrian part of the tourism business accounted for 86 percent of sales realised back in 2019, Zagreb hotels reached 36 percent of the same, and those down in Dubrovnik reached 44 percent of 2019's results.

Adris has also recently announced 200 million kuna in investments this year, with the continuation of preparations for the renovation projects of Zagreb hotels and the Marjan Hotel down on the coast in Split.

Croatia osiguranje's net profit amounted to 320 million kuna, 9 percent more on an annual basis, with 2.27 billion kuna of total gross premiums written in Croatia (a marked increase of 5 percent).

Cromaris' EBITDA profit also jumped up by more than a quarter, reaching 52 million kuna, while the net result was 12.3 million kuna.

For more, check out our dedicated business section.

July 12, 2021 - Works on Marjan hotel could begin by Rovinj's Adris Group already this September! 

By applying for a building permit on May 3 this year, which was completed on July 5 or became administratively filed, a new important step was made to prepare for the reconstruction of the Marjan Hotel, reports Slobodna Dalmacija.

These data were published in the information system of the Ministry of Physical Planning. Slobodna Dalmacija received confirmation from the owner of the unfinished building on the West Coast, Rovinj's Adris Group, who stated that "in cooperation with the City and relevant institutions, they have completed the necessary documentation for the reconstruction of Marjan, after which the works on the facility itself will begin." 

A few months ago, amendments to the location permit to reconstruct a building for catering and tourism purposes, i.e., a tourist facility with 285 accommodation units and a 5-star category, were obtained.

Boris Marelja, the head of the city's Administrative Department for Spatial Planning, Development, and Environmental Protection, said that an e-conference had been launched that will last 15 days, with the participation of public bodies, including HEP, Vodovod i kanalizacija and MUP to make any remarks before confirming the main project. After that part of the proceedings, the neighbors and other parties will have the right to inspect the file, also with a deadline of 15 days.

The speed with which the permit will be issued and become final depends on the possible objections. Of course, Marelja did not want to go into forecasts, and a rough calculation points to 45 days if there are no major objections. According to the information available, there should not be any, primarily because the documentation is well prepared, and it is not surprising if it is known that the Adris Group is a serious and reputable investor in the hotel and tourism industry.

According to the mentioned calculation of 45 days, the first works could follow in September this year. However, it should be reminded that this will not be construction, but the removal of "unwanted" or "superfluous" parts of the building.

Of course, Marjan will not be completely demolished as it was announced in the media, but according to the plans of former owner Željko Kerum and Jerko Rošin, there should be apartments. There is no doubt that the glass will be removed from the facade.

According to the announcement in September last year, the new hotel tower should have a height equal to the previous one after the planned project, but with one floor less as they will raise the individual floors. Raising the floors is logical and necessary to set up installations for various facilities, which did not exist when the hotel was built.

Zagreb-based architectural studio '3LHD' and renowned Italian architect and designer Piero Lissoni are working on the demanding project. In a Jutarnji List statement last year, Sasa Begovic briefly commented on the Marjan project: "We are doing a creative reinterpretation of the hotel built by Perković. We are also planning a smaller number of rooms and terraces with a view."

The designer of the first A deluxe hotel in Split, with 220 rooms, was, in fact, done by architect Lovro Perković. Built in 1963, Marjan soon became the pearl of Split tourism and one of the city's symbols.

In 1979, before the Mediterranean Games in Dalmatia, it was extended, and 10 years later, in 1989, it had its last reconstruction. Soon after the start of the Homeland War, displaced persons and refugees moved in. From 1998 until the beginning of the new reconstruction, it operated with only 30 percent of its capacity.

In 2005, Kerum bought it in a tender for 170 million kuna, three times more than the requested 57 million kuna. A period of big plans and optimism followed when, after four years, a 20-year franchise agreement was signed with Hilton.

However, the owner of the facility was soon elected mayor, and the work of building and renovating the hotel was suspended so that in 2015 everything would end with the bankruptcy of the "Adriatic" company. The bankruptcy lasted for several years, and in November 2019, Marjan was sold to an Istrian company for 324 million kuna.

The Adris group refrained from commenting and replied:

"This is a significant project for Split, but also the further development of the tourist part of our company. Namely, this is a demanding project that will contribute to Split's further tourist affirmation and confirm "Adris" as the leading Croatian company in luxury tourism. Furthermore, as the public knows, and your paper has written about on several occasions, we want to thoroughly renovate the Marjan Hotel and join it to the group of luxury hotels ("Grand Park Hotel Rovinj," "Monte Mulini", "Lone", "Hilton Imperial" in Dubrovnik."

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