Croatia's Valamar invests 34 mln euro in third hotel in Austria

The four-star hotel named Obertauern [PLACES] by Valamar brought the overall value of Valamar’s investments in the Obertauern skiing destination in the Austrian Alps to 66 million euro, the company said in a press release.

It is Valamar's first hotel under the [PLACES] brand outside Croatia, and the third one under this brand after the hotels in Croatia’s Adriatic towns of Hvar and Makarska.

The hotel has 120 rooms. Valamar bought it under its previous name, Marietta, in November 2021.

Valamar is Croatia’ leading tourism company operating hotels, resorts and camping resorts in Istria, the islands of Krk, Rab and Hvar, Makarska, Dubrovnik, and Obertauern in Austria. With over 21,000 commercial keys, Valamar’s 37 hotels and resorts and 15 camping resorts can welcome around 58,000 guests per day.

Valamar’s shares traded 0.46% higher at 4.36 euro by 1402 local time on Wednesday on the Zagreb Stock Exchange, bourse data showed.

($ = 0.927 euro)