April 4 (SeeNews) - Croatian hotel owner and manager Valamar Riviera [ZSE:RIVP] said on Thursday its management board has approved several allotment agreements for 2024 with German travel group TUI Group, with a total estimated value of 11.4 million euro ($12.4 million), for facilities owned and managed by Valamar.
Out of that amount, 6.6 million euro will be earned by Valamar, the company said in a filing to the Zagreb bourse.
TUI, which offers hotel stays, cruises and charter flights, among other services, consists of TUI UK Limited, TUI Sverige AB, TUI Belgium N.V., TUI Netherland N.V., and TUI Deutschland GmbH.
Valamar is Croatia’ leading tourism company, operating hotels, resorts and camping resorts in Istria, the islands of Krk, Rab and Hvar, Makarska, Dubrovnik, and Obertauern in Austria. With over 21,000 commercial keys, Valamar’s 37 hotels and resorts and 15 camping resorts can welcome around 58,000 guests per day.
Valamar’s shares traded 0.38% higher at 5.28 euro on Thursday afternoon on the Zagreb bourse.
($ = 0.920 euro)