The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Hotel / Restaurants Accommodation And Food Service Activities Accommodation 55.10 - Hotels And Similar Accommodation
600 jobs Number of planned job creations
Announcement Date
2 March 2024
Employment effect (start)
1 October 2024
Foreseen end date
31 December 2024
Description
The Croatia hotel company Valamar Riviera in the coming period will make the largest investment in Croatian tourism which will employ 600 permanent workers at the Pical Resort in Poreč. Due to the COVID-19 pandemic, construction was temporarily suspended in March 2020, and then postponed due to the energy crisis, inflation and the slowdown in economic growth. Valamar Riviera's supervisory board approved in June 2023 the preparatory activities for restarting the construction of the Pinea Valamar Collection 5 hotel. The hotel Pical 5 is worth EUR 139 million and will be open all year round. It will have 513 accommodation units, 10 themed restaurants and bars, a wellness centre, beaches and beach clubs, outdoor and indoor swimming pools and facilities for various types of vacation. For families, Pical will offer the Maro World educational playroom on more than 1,200 m2, Maro clubs, children's playgrounds and an entertainment program intended for families. The offer will also include a number of contents for an active holiday: the new Bike Centre, outdoor running tracks, water sports and an indoor 25-meter swimming pool. All sports and entertainment facilities, indoor swimming pool, beaches, promenades and other recreational facilities will be open to the general public, i.e. guests, visitors and local residents will be able to use them. Pical will also have a large congress centre with a multifunctional hall with a capacity of up to 1,200 participants. Completion of the works is scheduled for the end of 2025, but employment and training of employees will begin already after the touristic season 2024.
Eurofound (2024), Valamar Riviera, Business expansion in Croatia, factsheet number 201005, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201005.
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