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Nov 30, 2017 16:25 EEST
November 30 (SeeNews) - Croatian hotel operator Imperial said on Thursday its supervisory board has approved investment of 71.59 million kuna ($11.2 million/9.5 million euro) in 2018.
A majority of funds will go towards development and repositioning of the current Grand Hotel Imperial into the new four-star Valamar Collection Imperial Hotel, the company said in a Zagreb bourse filing.
Imperial will also continue to invest in its premium campsites, San Marino and Padova III, as well as into the continued digitalisation of its facilities.
Croatian hotel operator Valamar Riviera owns a 55.71% stake in Imperial.
(1 euro=7.55502 kuna)
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