Profectus Co To Invest 80 Mln Euro in Rotating Hotel on Croatia's Solta Island - Media

The relevant permits will be issued after the completion of the urban development plan currently being drafted, online news portal Bankamagazine (www.bankamagazine.hr) reported, quoting the head of the Solta municipality, Cecic Karuzic.

The construction works are expected to last three years, the town official said.

A marina with up to 170 berths and a yacht club are also planned, Bankamagazine said, adding that the hotel is designed by British architect Richard Hywel Evans.

Tourism is a key industry for Croatia, contributing around a fifth of the country's gross domestic product. The Adriatic country reported a rise in tourist numbers by 1.0% to 11.3 million last year. Overnights were up by 2.0% to 57 million.

($=0.6707 euro)