September 17 (SeeNews) - Croatian hotel operator Valamar Riviera [ZSE:RIVP] said on Monday it has concluded a 10 million euro ($11.7 million) loan deal with local Istarska Kreditna Banka Umag to finance its capital investments and permanent working capital.
"The transaction confirms the perennial good cooperation and the trust of the investment and financing community in the further development of the company," Valamar said in a filing to the Zagreb Stock Exchange.
It did not provide further details.
Valamar Riviera owns two brands: Valamar Hotels and Resorts and Camping Adriatic. With the acquisition of Imperial in 2016, a hotel group on Rab Island, Valamar Riviera Group now operates 30 hotels and resorts and 15 camping resorts in five attractive destinations along the Adriatic coast – from Istria and the islands of Krk and Rab to Dubrovnik.
($=0.855373 euro)