September 27 (SeeNews) - Croatian hotel operator Imperial Riviera [ZSE:HIMR] said on Monday it would invest 67 mln kuna ($10.4 million/8.9 million euro) to modernise hotel Dalmacija Sunny by Valamar.
“By this investment the hotel will be completely reconstructed and redecorated in line the standards of the Valamar [PLACES] brand,” the company said in a filing to the Zagreb bourse.
On Friday, the company's supervisory board gave its initial approval for the investment.
The three-star hotel is located in the Adriatic town of Makarska, in central Dalmatia.
The company's shares traded at 835 kuna on Monday afternoon on the Zagreb bourse, unchanged from the last closing price.
(1 euro=7.502 Croatian kuna)