May the 19th, 2023 - The well known Croatian brand Valamar is bringing more Michelin stars to Croatia thanks to their long-term cooperation with no less than the Italian Cerea family.

As Poslovni Dnevnik writes, Valamar has entered into a long-term cooperation with the world-famous Italian Cerea family, the holders of as many as three Michelin stars, which will raise the international recognition of Istria and indeed the rest of the Republic of Croatia to the level of a globally recognised gastronomic tourist destination. The first act of cooperation is the opening of the restaurant Miramare by Fratelli Cerea in the Valamar Collection Isabella Resort on the island of Sveti Nikola near Porec.

This season's opening of Miramare by Fratelli Cerea will bring a new dimension to the Croatian and Istrian gastronomy scene. The Miramare by Fratelli Cerea restaurant will offer classic Mediterranean and Italian cuisine, including several signature dishes from the famous Da Vittorio restaurant crowned with the three aforementioned Michelin stars, as well as a specially created tasting menu. Valamar's cooperation with the Cerea family also includes several months of training for Valamar's chefs, restaurant managers, sommeliers and other restaurant employees in both Croatia and Italy in the Cerea family's restaurants, in which the Miramare restaurant team, as well as numerous other food and beverage specialists in Valamar, will participate.

"Enrico "Chicco" and Roberto "Bobo" Cerea are two of the most influential European chefs of today, whose Michelin stars have done a great deal for the Italian area of Bergamo, as well as for all other destinations where they've opened their restaurants. It's an exceptional honour for us to be able to collaborate with these gastronomic virtuosos again, and even greater that our employees will have the opportunity to learn their craft from them. This beginning of this cooperation is the basis for building relations with the Cerea family and joint projects of the highest level in the future,'' said Dario Kinkela, the director of the food and beverage sector within Valamar.

The Cerea family otherwise nurtures a culinary tradition spanning more than 55 years, ever since they opened their very first restaurant in Bergamo, after which they opened several more in the following years, including in St. Moritz and in China. Da Vittorio is one of the few Italian restaurants with the famous three Michelin stars and is among the most prestigious restaurants in all of Italy.

For more, check out our news section.

November the 1st, 2022 - The Croatian company Valamar has enjoyed some excellent results and impressive revenue growth, but could all that end up being threatened by inflationary pressures? It seems rising costs are already making a dint.

As Poslovni Dnevnik writes, according to Valamar's business report for the first nine months of 2022, this huge Croatian tourism company achieved results that confirm the recovery of business operations after two years dominated by the public health crisis, and they also indicate the significant impact of the new crisis on business costs.

2.32 billion kuna in operating income was successfully achieved by Valamar, which was an increase of 14% when compared to the pre-pandemic 2019, primarily as a result of an increase in average prices of 19.5%. Operating profit (EBITDA) during the first 9 months of this year reached 943 million kuna, representing growth of 7.7%. The highest growth was achieved by premium hotels and campsites, which confirmed the justification of Valamar's previous investments in tourism with high added value. Northern destinations have also been recording higher demand and faster recovery than southern Croatia has, although hotels down south in Dubrovnik also reached the level of traffic they enjoyed back in 2019 during the main summer season.

Operating costs for the first nine months of 2022 grew by 19% compared to 2019 due to the significant increase in energy costs and the growth of other operating costs under the influence of spiralling and ongoing inflation. Electricity costs increased by a massive 89 million kuna, while other costs increased by a total of 126 million kuna when compared to back in 2019. The biggest impact on the increase in costs has been a staggering three-fold increase in the price of electricity to 230 euros per MWh, due to which, the work of many larger accommodation facilities during the off-season has been shortened.

"With revenue growth of 14% compared to 2019, Valamar Riviera has achieved full recovery from the crisis caused by the coronavirus pandemic. Through the increase in service prices, primarily the price of accommodation in the premium segment, we managed to amortise the enormous increase in energy costs and the increase we've seen with other operating costs.

Ahead of us is a year full of a lot of uncertainty and challenges owing to the energy crisis, inflation, the cost of financing and geopolitical disturbances, but there's also good news such as Croatia's impending entry into both the Eurozone and into Schengen. The country's tourism sector should turn to the preparation of the next tourist season as soon as possible in order to ensure competitive business conditions and sustainable growth of tourism in time,'' said Zeljko Kukurin, President of the Management Board of Valamar Riviera.

Despite the crisis, investments in the amount of 530 million kuna were realised this year within several facilities managed by Valamar. The investment in Valamar Amicor Green Resort in the amount of 220 million kuna has significantly raised the quality of the offer on the Central Dalmatian island of Hvar, and refers to the construction of the first summer resort that follows the highest standards of green construction and sustainability. On the mainland in Makarska, the Dalmacija hotel was completely renovated and became Valamar's second lifestyle hotel under the PLACES brand. The Corinthia Hotel in Baska was renovated according to the standards of the Sunny Plus brand, and back in July, the acquisition of the third hotel in Obertauern was finalised, which will open for the 2022/2023 winter season, welcoming guests as Valamar Collection Kesselspitze Hotel 5*.

Valamar is otherwise the largest employer in Croatian tourism by far, employing 7,700 employees this year alone. In order to improve working conditions and retain local employees, 15 million euros were invested this year in salary increases and numerous reward programmes. By entering the TOP 10 most desirable Croatian employers, Valamar has confirmed its long-standing position as the best employer in the country's tourism sector. Back in June this year, Valamar presented its brand new sustainability strategy and ESG goals which it intends to implement until the year 2025, within which, over the next three years to be precise, it plans to become a carbon-neutral company in the first and second scope and to invest 50 million euros in the further development of its destinations and sustainability projects.

For more, make sure to check out our dedicated business section.

July the 30th, 2022 - The massive Croatian tourism company Valamar Riviera has published the results it has acheived during the first six months of this year, and they're in stark contrast to the situation just one year ago, never mind two.

As Poslovni Dnevnik writes, in the first half of 2022, the Croatian tourism company Valamar Riviera achieved an impressive 2.1 million overnight stays with business revenues of 677.5 million kuna, which is comparable to the volume of business in the first six months of the pre-crisis, record year of 2019.

The growth of business income in the first half of 2022 is mostly the result of the growth of average prices, which are roughly 8 percent higher when compared to how much they were back in 2019. The best results were recorded in the premium segment, especially in the part of campsites and car destinations.

However, increased costs, primarily of electricity, labour and food products had a significant impact on profitability overall. The operating profit for the first six months stands at 58 million kuna less than in 2019, which is entirely the result of increased electricity costs of 37 million kuna and labour costs of 22 million kuna.

With the aim of increasing the attractiveness of key professions in tourism and providing the best working conditions in the sector, the Croatian tourist company Valamar launched the ''First for a reason/Prvi s razlogom'' campaign this year. For this year, a total of 15 million euros have been set aside for salary increases and various reward programmes. This year, Valamar is once again among the TOP 10 most desirable Croatian employers of all, and is still the best employer in the tourism sector.

The investment cycle in hotels, summer resorts and campsites managed by the Croatian tourism company Valamar for 2022 amounted to a massive 530 million kuna. Dalmacija [PLACESHOTEL] by Valamar in Makarska, the newly built Valamar Amicor Green Resort in Stari Grad on the island of Hvar and Corinthia Baska Sunny hotel by Valamar on the island of Krk were all successfully opened. This season's investments include new facilities at Istra Premium Camping Resort and the Lanterna Premium Camping Resort in Porec, as well as the construction of a beach near the Valamar Padova Hotel on the island of Rab. The new Valamar House for housing seasonal employees down in Dubrovnik was also opened.

The Croatian tourism company Valamar has also expanded its portfolio in nearby Austria with the acquisition of the Kesselspitze 5* Hotel, which has become the third hotel under Valamar's management in Obertauern, Austria. As the first Valamar Collection hotel in Austria, it will open in the winter season of 2022/2023.

Valamar Riviera is otherwise the very first tourism company in Croatia to have integrated sustainable development into its business and development management and published a new sustainability strategy and set of ESG goals until the year 2025. The strategy includes 12 key goals in the field of environment (E), society (S) and management (G) that Valamar plans to achieve through 6 strategic initiatives until the aforementioned year.

For more, make sure to check out our dedicated business section.

July the 2nd, 2022 - A massive two million euros has been invested into a beautiful Rab beach which falls within the scope of one of many large hotel complexes - Valamar Padova.

As Poslovni Dnevnik writes, the brand new sandy Rab beach at the Valamar Padova hotel and the The Beat Beach Club have now been officially opened! The value of Imperial Riviera's investment in this project in which the new Rab beach was revamped stands at more than two million euros.

With this investment, Imperial continues to invest in the development of the destination of the island of Rab as a whole and improve the quality of the tourist offer. The number of guests during the height of the summer tourist season had exceeded the beach capacities of the island of Rab, and especially the properly equipped beaches. Way back in 2012, Imperial Riviera initiated a project for the construction, expansion and improvement of the beaches in the Banjol area, which stretches from the Valamar Padova Hotel to the Padova Premium Camping Resort, according to a statement from the City of Rab's administration.

"Today, Imperial Riviera is the fifth largest tourist company in all of Croatia, and we're aware that in the great competition across the tourist market, we must ensure the continuity of investment in the quality of our facilities and content, including the beaches, which are an integral part of our overall offer. Imperial Riviera's strategic commitment within the Valamar Group is to respect the concept of sustainable development in all business segments, from protecting the natural environment to supporting local culture, lifestyle and relations with the local community. This includes taking care of the arrangement and maintenance of the beaches, which are equally enjoyed by the local population as they are by tourists, and which significantly improve the touristic competitiveness of the destination," said Vlado Mis of Imperial Riviera.

The construction and arrangement of the Rab beach in front of the Valamar Padova hotel enabled the employment of twelve new employees. The project included the filling of about 5,000 square metres of the coastal area, the construction of a breakwater, infrastructural and horticultural landscaping, a new promenade, beach facilities, a sanitary facility and equipping it with the most modern beach equipment, including canopies and sunbeds, as well as several attractions for children. With a capacity for about 700 swimmers, the new sandy Rab beach within the Valamar Padova hotel is currently the most modern and most beautifully decorated beach on the entire island.

The newly renovated beach is otherwise managed by Imperial Riviera as a concessionaire, and in addition to guests of the Valamar Padova hotel, the beach is also open to local residents and other tourists staying on the island of Rab.

For more, make sure to check out our dedicated business section.

June the 5th, 2022 - The well known Croatian Valamar company has purchased yet another Austrian hotel in a popular ski resort, as it eyes further expansion and the offer of permanent work contracts for its employees.

As Poslovni Dnevnik/Marija Crnjak writes, the Croatian Valamar company is continuing to expand its portfolio in Obertauern, Austria, by acquiring the luxury Hotel Kesselspitze, which will thus become the third Valamar-run hotel in Obertauern and the first Valamar Collection hotel in Austria. The Hotel Kesselspitze has so far been owned by the Lürzer family, which is recognised as a leader in development and innovation in the entire Obertauern destination.

The internationalisation of the Croatian Valamar company's overall portfolio with a focus being placed on winter destinations in the Alpine region is one of the company's strategic goals from back in 2018 with the opening of the first 4 * hotel, the Valamar Obertauern Hotel. The company's expansion in Austria continued throughout the year 2021 through the acquisition of the Marietta Hotel in Obertauern and the establishment of a new ownership structure within Valamar A GmbH, an SPV company in which Valamar has a minority investor but provides hotel management services to the entire portfolio.

The Hotel Kesselspitze 5 * is otherwise one of the most famous and recognisable hotels in Obertauern, it boasts 66 rooms, a restaurant, an indoor pool and wellness facilities, and enjoys an excellent location with direct access to the nearby ski slopes. The Valamar Collection brand represents the highest level of services and comfort for guests, as well as a range of services that Valamar will offer to guests. As the first Valamar Collection hotel in all of Austria, it will open its doors during the winter season of 2022/2023.

"The internationalisation of business by expanding our portfolio in winter destinations in the Alps is a strategic goal of Valamar. The acquisition of the third hotel in Obertauern represents another important step in the realisation of business synergies, especially the employment of our seasonal employees for the whole year,'' said Zeljko Kukurin, CEO of Valamar Riviera.

The Croatian Valamar company plans to continue investing in the quality of its portfolio in nearby Austria.

For more, make sure to check out our dedicated business section.

May the 13th, 2022 - The Croatian company Valamar, which is huge and very well known in the tourism sector, is turning more and more towards solar power to provide electricity to its hotels by the year 2025.

As Poslovni Dnevnik/Darko Bicak writes, the development of tourism in Croatia must be sustainable and be guided by the principles of the benefit of everyone and the environment, not pure profitability. This and more could be heard at the presentation of the cooperation between the Croatian company Valamar and E.ON recently in Porec.

It was emphasised that energy efficiency and renewable energy sources are one of the most important focuses of this principle.

SaIvana Budin Arhanic, a member of Valamar's Management Board, explained that they have been investing in renewable energy sources for years now, and currently they produce about about six percent of their own electricity. Over the past four years, Valamar has invested a total of 400 million kuna in energy efficiency projects.

"The amount of total electricity produced from RES corresponds to consumption on the island of Sv. Nikola in Porec and the tourist resources located here are completely covered from that source. However, the Croatian company Valamar, as a corporation, exclusively buys green energy, which in turn allows us to maintain the highest environmental EU standards,'' said Budin Arhanic. Alen Benkovic, Valamar's senior vice president for technology, pointed out that the 2nd and 3rd phases of the RES development project in Valamar are already being prepared.

"The plan is that by the year 2025, 20 percent of our consumption will come from our own sources. It's clear that there are many administrative and technical obstacles, but the goal is ambitious and we really do hope we manage to achieve it. It's more and more about respecting the environment and about ecology, but also security of supply and the price itself,'' said Benkovic.

Vedran Belamaric, Director of Energy Solutions at E.ON Croatia, pointed out that the project with the large Croatian company Valamar launched 2.5 years ago was very logistically demanding.

"This is a very innovative business model that includes a kind of ESCO, or BOT (Build Operate Transfer) model, so that at first the power plant is ours, until the sale of energy pays off, and then becomes the property of Valamar. It's a technically very demanding project that includes 26 locations with 68 facilities, installed capacities of 3.5 MW, which means about 5 GWh of electricity produced per year,'' explained Belamaric.

He added that they have significant problems, both in Istria and in the rest of Croatia, with bureaucracy and there are a number of solar power plants that have been built, but due to "paperwork" still can not be put into operation. Some of them have been waiting to be put into full function for more than a year now. The situation is almost the same with investments made by companies as with power plants installed by people themselves.

E.ON has implemented or is implementing about 50 projects across the Republic of Croatia for business users with a total installed capacity of 40 MW solar power plants, and they also have a large number of households in their impressive portfolio. Andreas Rorig, President of the Management Board of E.ON Croatia, pointed out at the aforementioned recent event in Porec that solar energy has the most significant growth potential in the coming years in Croatia.

"Istria and Dalmatia have 40 percent more insolation compared to, for example, Munich, creating the same percentage of earlier return on investment. By installing home solar power plants, we've helped our customers achieve energy efficiency and independence, and we're continuing to develop smart and diverse energy solutions tailored to the needs of modern households. Together with our business customers such as Valamar Riviera, Pliva, Zito Group, Bauhaus, Gavrilovic, Atlantic and other industry leaders and sustainability leaders, we're working hard in order to realise the solar potential of the Croatian market and shape that market together.

Throughout 2022, we're going to invest at least 12.5 million euros through BOT models with energy purchase agreements (PPAs) with our customers. In addition, we expect more than 25 million euros to invest in other solar projects that we're currently working on,'' concluded Rorig.

For more, check out our business section.

February 28, 2022 - After 15 successful years in Bol, the popular WTA tournament will move to Makarska for the first-ever Makarska Open hosted by Valamar!

After 15 successful years in Bol, the time has come for a new destination, say the organizers of the WTA tournament. Its 16th edition will be held from May 30 to June 5 in Makarska! 

The magnificent sea view, great atmosphere, and excellent organization are again the strongest assets of the famous sporting event, which features the best-ranked female tennis players from Sweden, the Netherlands, Belgium, Slovakia, Montenegro, Italy, China, Luxembourg, Serbia, Slovenia, and Croatia - and all the winners regularly return! 

"First of all, I would like to thank Bol, its residents, and all partners on Brač for the exceptional cooperation over the past six years of leading this tournament. They were great hosts; we breathed as one and lived for this event. But the time has come for new energy and a new place. The city of Makarska, with a long sports tradition, and Valamar Riviera as a leading tourist group are the right partners for the growth and future of our event. I am convinced that this year we will bring the best of women's tennis and create a real sports spectacle in the pre-season," said Felix Lukas, director of the WTA tournament, which this year has a new name - WTA Makarska Open hosted by Valamar.

WTA leader Steve Simon says Croatia has always supported women’s tennis and the WTA tournament.

"Croatia is a country with exceptional success and history in organizing top tournaments dating back to 1991. We are looking forward to the Makarska Open continuing our WTA story on the beautiful Croatian coast," says Simon.

Global promotion of Makarska

"We are on a good path to turn Makarska into one of the better destinations in Europe. From the first day, our goal is to bring globally recognizable events such as the WTA tournament to our city below Biokovo. I am extremely proud that we managed to bring such a prestigious tournament to Makarska and the cooperation of the City, WTA, and Valamar, which proved to be an outstanding partner to the local community. The WTA tournament in Makarska is the first and significant step in realizing our vision of Makarska as a desirable tourist and sports destination. I am sure that the tournament will help us get on the map of destinations that offer tourists new experiences and interesting content," says Zoran Paunović, the mayor of Makarska.

Makarska locals are looking forward to promoting their city, the arrival of top tennis players, and exciting matches, and they hope that they will be great hosts like Bol.

Split-Dalmatia County could not hide their satisfaction that this tournament is still being organized in the region. 

"This is a significant international sports event that promotes our county, the whole of Dalmatia and Croatia. Thanks to its extremely positive atmosphere, this tournament is recognized, and I am convinced that it will be the same in Makarska, another beautiful Dalmatian destination. From the beginning, Split-Dalmatia County has supported the WTA tournament, which sends a picture of optimism to the world, and we all need that in these challenging times," said Blaženko Boban, County Prefect of Split-Dalmatia County.

Valamar is investing in the renovation of the Tennis Center.

"The development of the destinations in which we operate is part of Valamar's strategy of socially responsible business. Therefore, we are looking forward to this new partnership and that we will be the general sponsors of the WTA Makarska Open tennis tournament, which we will be proud to host for at least three years, for which we have signed a contract so far. By sponsoring this tournament, which includes an investment in the renovation of the Makarska Tennis Center, which will be the venue of the tournament, but also the reconstruction of the Dalmacija Places Hotel, which will be officially opened during the tournament, we prove how much Valamar Group believes in Makarska as a destination and its tourism development," said Alen Benković, Senior Vice President for Development, Property Maintenance and Technical Services at Valamar Riviera and President of the Management Board of Imperial Riviera.

To read more about sport in Croatia, follow TCN’s dedicated page. 

February the 27th, 2022 - The global coronavirus pandemic which struck the leisure and tourism industry hard back in 2020 and 2021 is far from a distant memory for those working in the sector despite the much more favourable epidemiological situation now. Valamar Riviera, a very well known and wildly successful Croatian hotel company, still hasn't managed to make up for the damage the pandemic caused to its business operations despite an excellent result for tourism in 2021.

As Poslovni Dnevnik/Marija Crnjak writes, back in 2021, Croatia's Valamar Riviera generated operating revenues of an impressive 1.6 billion kuna, or 74 percent of what it made back in the pre-pandemic, record year of 2019, while its operating profit (EBITDA) reached the level of 84 percent of pre-crisis 2019.

In addition, in the third quarter of 2021, Valamar Riviera recorded the normalisation of its business operations in almost all of the destinations in which it operates up and down the country, achieving excellent results in Northern Adriatic destinations, on its campsites and in the premium segment. However, down south in Dubrovnik and in the 2 * and 3 * facilities, no significant business recovery was achieved, the company has since reported.

On top of all that, although the business results in 2021 were very positive, the realised losses from the coronavirus crisis period during the pandemic has largely not been covered by the company's recovery so far. Uncertainty in the wider environment will continue to affect tourism business and the economy in the near future, and the normalisation of tourism and its related business is expected during 2022 and 2023.

As it is known, back in 2021, Valamar Riviera started a new phase of growth by expanding its cooperation with investment partners across Croatia and the further internationalisation of its impressive portfolio in Austria, by buying its second hotel in Obertauern.

During the coronavirus pandemic, Valamar continued to develop its products, services and tourism portfolio with a two-year investment cycle spanning 2019/2021 in the amount of almost 870 million kuna. At the end of 2021, a new investment cycle in the amount of 525 million kuna was launched in facilities managed by Valamar with the aim of further developing the quality of its portfolio, resorts and camps, developing green tourism and digitalising its business processes.

Work is also currently underway on the investments of the Dalmatia Hotel [PLACES] by Valamar in Makarska, which is planned to open in May this year, as well as on the first fully sustainable eco-resort for family holidays, Valamar Amicor Green Resort on the central Dalmatian island of Hvar.

For more, check out our business section.

February 15, 2022 - Valamar salaries this year will be closer to wages in leading European destinations, with some increasing by 14 percent.

This year, in agreement with the social partners, Valamar is raising salaries for professional occupations in hotels, camps, and resorts to bring income in Croatia closer to the income level in leading European destinations, the company said in a statement on Jutarnji List.

In addition to salary increases, several initiatives have been launched to improve working conditions in tourism to adapt Valamar's business to new trends and needs.

Salaries for professions, including chefs, waiters, specialist housekeepers, and receptionists at Valamar, are rising by an average of 14 percent, and their income this season will amount to 1,000 to 1,600 euros net per month. Furthermore, the Valamar guarantee, a guarantee of minimum net income for maids, assistant chefs, assistant waiters, kitchen workers, waiters, and many others, will be increased to a monthly amount of 750 to 1,100 euros net. In addition to raising basic salaries, it continues with the programs of rewarding excellence. Last year, employees were paid awards under the program "13th and 14th salaries" of up to HRK 11,300 net, depending on how long and successfully they worked.

Additional programs have been created for this season, aiming to improve employee satisfaction and attitude towards work. The "Flexi job" program provides employees in hotels, camps, and resorts with two days off a week, allows them to work in one shift, and adjust work obligations to the needs of employees, all to better balance private and business life. In addition to quality accommodation and food for all employees who come to work from other parts of Croatia, the "Living Destination" program offers employees discounts at more than three hundred outlets. In addition, they can use destination entertainment such as excursions or sports activities to get to know the destination and spend quality and fun time outside of working hours.

"We are glad that our social partners have strongly supported Valamar's significant steps in terms of increasing salaries and further improving the working conditions of employees. All of us aim to retain employees in tourism through quality and long-term work and ensure incomes that are close to those in leading European destinations," said Ines Damjanić Šturman, Vice President of Human Resources at Valamar Riviera.

Valamar operates in eight destinations in Croatia from Istria to Dubrovnik and employs more than 7,000 people. This year, to ensure quality and long-term work in tourism, they will continue to increase the number of employees who will have year-round work and income. At the end of the tourist season, Valamar plans to offer an additional 400 indefinitely and 1,000 contracts for permanent seasons. Also, due to the expansion of business to winter destinations, employees will be provided jobs in hotels at ski resorts in Austria during the winter.

Eduard Andrić, President of the Trade Union of Tourism and Services of Croatia, stated that the Trade Union of Tourism and Services of Croatia initiates and supports all Valamar activities aimed at improving the material status of all workers by increasing wages and thus job security of domicile and seasonal workers.

Valamar will continue with the award programs this year, including new members of the Valamar team who will join the company. Vacancies are already open, and anyone interested in working at Valamar can apply via the link.

For more on business in Croatia, follow TCN's dedicated page.

December 22, 2022 - The most ambitious solar power plant project in Croatia has been launched, implemented by Valamar and E.ON Solar, which operate within the E.ON Croatia Group.

The cooperation between E.ON and Valamar included the installation of solar power plants at 26 Valamar hotels and camps along the Adriatic coast, which covers 5 percent of Valamar's total electricity needs, reports HRTurizam.

Cooperation with Valamar is the first and largest project in Croatia under the ESCO financing model in which power plants are owned by E.ON's company Solnet, and all energy produced is intended for Valamar for its own consumption.

For many years now, Valamar has been investing significant funds in energy efficiency and renewable energy projects, which we will continue to work on intensively in the coming period, said Flavio Gregorović, director of the technical department at Valamar Riviera, adding that the move would increase their competitiveness and provide them with a new renewable source of electricity.

“The amount of electricity produced in the installed solar power plants is sufficient for the entire needs of one of our most successful resorts, Valamar Isabella Island Resort on the island of Sveti Nikola in Porec.

With this initiative, we are sending our guests an additional message about the importance we attach to sustainable development and socially responsible business, in which Valamar has invested more than 400 million kuna in the past five years," concludes Gregorović.

E.ON hired more than 60 experts of various profiles on the project, who realized the services of designing, installing, commissioning, and financing the project, which represents a significant step towards green and sustainable tourism. The use of renewable energy sources also contributes to the EU Green Plan for environmental protection and reduction of carbon dioxide emissions, in which E.ON and Valamar are examples of good practice.

"This collaboration took place in unstable pandemic conditions, but we nevertheless showed that a strong partnership of two leading companies, each in its field, can bring added value both for our business and for guests who are increasingly aware of sustainable and green tourism.

Croatia has a significant solar energy potential which, if used properly, contributes to reducing operating costs, increasing profitability, and minimizing market risks of rising electricity prices. We are glad that Valamar recognized us as a reliable and professional partner and showed us the confidence to use the sun's energy for their benefit, but also for the benefit of Croatian sustainable tourism," said Vedran Belamarić, Director of E.ON Solara.

To read more about lifestyle in Croatia, follow TCN's dedicated page.