October 24, 2018 Valamar Hotels & Resorts

Valamar acquires Hotel Petersbühel 4* in Austria

Valamar, Croatia’s largest tourism company, has acquired Hotel Petersbühel 4* in Obertauern, Austria. Valamar Riviera has been active in analyzing expansion opportunities in the region for some time now, with special focus on Austria. The 80-key hotel is located centrally in Obertauern.

Hotel Petersbühel is specialized in ski and alpine holidays offering its guests all the comforts of a contemporary four-star hotel: comfortable rooms with breathtaking views of the snowy Obertauern mountains, 420-square-metre spa area, excellent service and delicious cuisine. Following the acquisition, the hotel will become the 16th property under the Valamar Hotels & Resorts brand and will reopen end of this November as Valamar Obertauern Hotel 4*.

The acquisition of the 4-star Hotel Petersbühel in Austria is a natural and logical link in Valamar’s strategic goals for the coming period, which includes an expansion beyond the borders of the country,” says Karin Gert Nielsen, Managing Director of Atlantic Link, representing Valamar in Scandinavia and Finland. She adds that Austria is a popular and well-liked ski destination, and that visitors from the Nordic countries can look forward to the hotel reopening as the Valamar Obertauern Hotel in late November.

Valamar’s portfolio includes 33 hotels and resorts and 15 camping resorts from Istria and Kvarner to Dubrovnik that can welcome around 57,000 guests daily. As a top employer in Croatia’s tourism, the company employs up to 6,600 people. In 2017, Valamar reached 229 million EUR in revenues and more than EUR 80 million in operating profit. Valamar is also the largest overall investor in Croatian tourism with over EUR 550 million invested into acquisitions and upgrading its own portfolio. Investments in 2017 and 2018 amounted to EUR 220 million and the company has announced a new investment cycle totaling over EUR 100 million for 2019. Key investment projects in the recent period include Valamar Collection Isabella Island Resort 4*/5* and Valamar Collection Girandella Resort 4*/5* where a first Kinderhotel in the portfolio, Valamar Girandella Maro Suites 5*, opened this year.

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