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Croatia's Dalmatie investing 20 mln euro in hotel revamp

Jun 13, 2024, 5:09:25 PMArticle by Annie Tsoneva
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June 13 (SeeNews) - Croatian hotel owner and manager Dalmatie Group, part of Hungarian asset management group Indotek, said on Thursday it is investing 20 million euro ($22 million) in the renovation of the 3+ star Labineca hotel in Cradac, an Adriatic resort in the country's south.

Croatia's Dalmatie investing 20 mln euro in hotel revamp
Dalmatie Group presented on June 13, 2024 in Gradac its 20 million investment plan for hotel Labineca. Source: Dalmatie Group

The project for revamping the 248-room hotel will be completed before the peak of next year tourism season, and it is seen as key in the revitalisation of the local tourism offer, Dalmatie Group said in a press release.

Dalmatie Group has acquired the Labineca hotel in a transaction involving non-performing loans of its previous owners who did not intend to invest in its renovation and maintenance, the company said.

Currently the hotel is not operating and more than 40 of its former employees work at other facilities of the Dalmatie Group.

($ = 0.927 euro)

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