December 13 (SeeNews) - Croatian hotel operator Valamar Riviera [ZSE:RIVP-R-A] signed a deal with TUI UK for the provision of hospitality services at its properties in 2019, the Croatian company said on Thursday.
The deal has an estimated annual value of 125.5 million kuna ($19.3 million/17 million euro), Valamar Riviera said in a filing with the Zagreb Stock Exchange.
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 2019 main season and shoulder season, it added.
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 = 7.3982 kuna)