September 25 (SeeNews) - Croatian hotel operator Valamar Riviera [ZSE:RIVP-R-A] said on Monday it has concluded a deal with TUI UK for the provision of hospitality services at its properties in 2018, with an estimated annual value of 80.3 million kuna ($12.7 million/10.7 million euro).
With this business collaboration with the leading tour operator on the European source market, Valamar has already secured one part of the occupancy of its hotels in the 2018 main season and shoulder season, the Croatian company said in a Zagreb bourse filing.
The Valamar group runs hotels, apartment villages and campsites in Istria and in Dubrovnik and on the Adriatic islands of Krk and Pag.
Tourism is a key industry for Croatia, accounting for around a fifth of the country's gross domestic product.
(1 euro=7.48467 kuna)