Croatian hotels attract millions in investment

Photo courtesy sorincolac

Tourism businesses are investing more than 4.3 billion kuna ($604 million) in hotel development projects that will include the reconstruction of old hotels and the construction of new ones. 

The construction projects are located from Istria to Dubrovnik along the coast, but also in Zagreb, which will get some smaller hotels as well as some new global brands.

Among the largest projects are construction of the new Park Hotel in Rovinj and two hotels in Zagreb, which will likely operate under the Marriott brand, at the location of former facilities of Croatia osiguranje at Miramarska Street and Ban Jelačić Square.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

In Rovinj, construction on a new Park Hotel will be launched “very soon,” and Adris will invest about 600 million kuna in what is expected to be a luxury hotel. The 200-room property could operate under an international flag or the local Maistra brand. When the new hotel opens 2018, Adris will complete its Monte Mulini zone (hotels Eden, Park, Lone and Monte Mulini). According to Poslovni, the project has recently been declared a "project of strategic interest" for Croatia, which should accelerate the issuance of permits and facilitate communication with local and state institutions.

Near Opatija, Ičići will also get a new hotel for the next tourist season. Liburnia Riviera Hotels will build the Remisens Hotel Giorgio II with 180 rooms.

In Crikvenica, Jadran has announced the reconstruction of the Hotel Esplanade at a cost of more than 35 million kuna. After the renovation, the hotel will have 38 rooms and will be open for eight months out of the year.

Suggested Articles

The development, located near the entrance to Walt Disney World Resort, will include 997 guestrooms and a sports facility.

Marin Management’s founder revealed plans to retire later this year as IHG, Dream Hotel Group, Aimbridge Hospitality and others added new leaders.

Guy Hutchinson, acting CEO, Rotana Hotels, has been promoted to serve as the group’s president & CEO.