A positive 2023 for Valamar: turnover grows by 15-16%, rewarding the investments made by the Group

The cost increase caused by inflation did not stop Valamar Group’s growth, which expects to generate operating revenue between €374 and €378 million in 2023, corresponding to an annual growth of 15%-16%. The company is poised to reap the benefits of its investments in developing the portfolio and enhancing the service quality in its facilities.

Camping segment among top performers

The growth in operating profit, expected to be between 4% and 6%, reaching an amount between €107 and €109 million, will be slower. This result is affected, on one hand, by high inflation in the supply chain and, on the other, by around €20 million of additional investments in employee benefits – salary increases, rewards, training, and programs aimed at improving the quality of life for workers. In the first three quarters, company revenues grew by 13%, while average rates increased by 14.2%.

The best results come from premium products and services and the camping segment, where revenues have already increased by 17% in the first six months of the year compared to 2022. Notable performances include all destinations in northern Croatia and the success of Maro World in Dubrovnik, the largest family entertainment center on the Adriatic, covering an area of ​​1,800 square meters with 13 different play areas.
Investments totaling €58 million.

Investments of €58 million

In the 2022/2023 season, Valamar pursued a significant investment plan, totaling €58 million: 32 million were dedicated to Dubrovnik alone, focusing on service excellence in three hotels in the Croatian city. Investments were also completed in the Istra Premium Camping Resort 5* in Funtana (in the opening picture), a sustainable campsite on which the group has invested a total of €81 million over the past 7 years. Finally, the construction of the Pical hotel in Poreč, one of the most beautiful summer destinations on the Istrian coast, has been resumed. The project, which started in 2019 and was interrupted in 2020 due to the pandemic, is once again a priority for Valamar, aiming to create a luxury year-round five-star resort worth a total of €130 million.

Photo credits: Valamar