The Adriatic Supervisory Board has accepted an investment plan of over 10m euros
The Supervisory Board of Jadran dd from Crikvenica, a tourist company that owns 8 hotels, 2 campsites and a tourist resort on the Crikvenica Riviera, at today’s session approved the company’s Management Board to implement an investment plan worth over 83 million kuna.After the completion of this year’s investment cycle worth over 40 million kuna, which resulted in raising the categories of hotels Katarina and Omorika to four stars and expanding the offer of mobile homes in the camp Selce, the Adriatic Administration has begun preparations for a new investment cycle in 2017. the team made an estimate of all these investments. The investments include six facilities, and the realization depends on the speed of obtaining the necessary permits and the financing model.The accepted plan envisages landscaping hotel Esplanade in Crikvenica, and after renovation the facility will be positioned as a family boutique hotel with a high four star instead of the current three star category. The renovation will include a complete reconstruction of the new and old part of the hotel built in 1929, which has not been in operation since the fire that engulfed it in 2001, the creation of a wellness and SPA zone, infrastructure works and landscaping. The value of the total investment is HRK 32,8 million, and the planned completion of the works is expected in July next year, provided that a building permit is obtained soon, for which all the necessary documentation has been submitted.”Our goal is to return Crikvenica to where it belongs – to the top of Croatian tourism” Dino Manestar, President of the Management Board of Jadran ddStrategic business plan for the period from 2016 to 2025 All investments are also foreseen in the Strategic Business Plan for the period from 2016 to 2025, which was adopted in February this year, but for certain investments the dynamics were accelerated. In addition to the Esplanade, a third phase of landscaping is planned Hotel Omorika which, after the four-star categorization was confirmed in June, will further enrich its content by arranging a wellness center with a swimming pool in the former disco club “Oleander” with an investment value of 11,3 million kuna. The second phase of landscaping will continue in Selce hotel Katarina with an emphasis on the arrangement of the health center, wellness, indoor pool and SPA zone, as well as the arrangement of congress halls, parking and the environment of the facility to complete the positioning of the facility as a four-star spa hotel. The total amount of the investment is estimated at just over HRK 15 million, and the end of the works is expected in May 2017.In addition to Katarina, the old part of Selce is planned to be renovated by June next year Hotel Slaven which is currently not in use, as a three-star holiday hotel with an investment value of HRK 10,2 million. Further landscaping is also planned camp Selce in order to further raise the categorization to the level of four stars, which includes the arrangement of toilets, children’s playground, entrance road, check-in zone, parking with charging stations for electric vehicles, environment, households and services, accommodation for seasonal staff, etc. with total value investments of HRK 15,2 million.”By accepting the investment plan, we show that we are continuing with the planned path of development of the Adriatic with a clear vision of the company in the future. It is a successful, modern and strong tourist company that provides a high level of service to its guests in all facilities, and everything we have achieved in the past gives us a strong motivation and impetus for future success with the support of all our employees and all people of Crikvenica. Since we came out of bankruptcy, I repeat that our goal is to return Crikvenica to where it belongs – to the top of Croatian tourism, and that goal is getting closer to us with each project.” said Dino Manestar, President of the Management Board of Jadran ddIn addition to accepting the investment plan, the Management Board informed the Supervisory Board about the recapitalization procedure, which will, in accordance with the Strategic Business Plan adopted in February this year, try to attract investors needed to implement an investment plan worth over 300 million kuna. In 2021, most of the Adriatic facilities were categorized with 4 stars.