February 2 (SeeNews) - Croatian hotel operator Jadran said on Thursday it has begun the second phase of an investment project worth 15 million kuna ($2.2 million/2 million euro) at its Selce-based seaside resort Katarina.
This phase of the project includes the reconstruction of an indoor pool with heated sea water, a wellness centre and conference facilities with the aim to draw a larger number of tourists all year round, Jadran said in a statement.
During the first phase of the project, which cost 29 million kuna, Jadran upgraded hotel Katarina to four-star category. The funds for the project were secured through a loan from Croatia's state-owned development bank, Hrvatska banka za obnovu i razvitak (HBOR), and from the company's own funds.
In August, Jadran said it will invest over 83 million kuna in 2017 in the upgrade of its Crikvenica-based Esplanade hotel, several hotels in its Selce-based seaside resort and hotel Omorika.
Works on the Esplanade hotel in Crikvenica will cost 32.8 million kuna, as the hotel will be overhauled and upgraded to the four-star category, with a wellness and spa area added to it. The hotel is planned to be ready by July.
In January last year, Jadran said it plans to invest some 301.3 million kuna in the upgrade of its facilities over the next six years and raise the category of 69% of its accommodation capacities to four stars by 2021. A total of 43% of the planned investments will be carried out during 2017 and 2018, the company said at the time.
Crikvenica-based Jadran operates eight hotels, two car camps and one holiday village.
Tourism is a key industry for Croatia, accounting for around a fifth of the country's gross domestic product.
(1 euro=7.43983 kuna)