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In the first six months of 2026, Valamar achieved operating revenues of 158 million euros, representing a 10% increase compared to the same period last year. Business growth was primarily driven by the opening of the 5* Pical Resort, the largest single investment in Croatian tourism worth over 200 million euros, which represents an important strategic milestone in transforming the portfolio towards premium and year-round tourism. In the first half of the year, two million overnight stays were achieved, while board revenues amounted to 125 million euros, with a 10% growth on a half-year level.
The successful opening of the 5* Pical Resort in mid-March and the completion of investments in the Brulo cluster, including Sunny Poreč by Valamar 4* and Aquamar Brulo, which began operating at the beginning of July, further improved the quality of the portfolio and strengthened Valamar's market competitiveness ahead of the peak tourist season. The effects of these investments are also confirmed by the results of the destination of Poreč, which achieved 21% higher board revenues compared to the same period of the previous year.
Adjusted EBITDA stood at -2.2 million euros, compared to 4.3 million euros in the same period of the previous year. The result was mostly affected by the later opening of the Sunny Poreč by Valamar properties due to investment activities and pre-opening costs associated with the opening of the Pical Resort. Given the seasonality of the Group's business model, the largest share of annual EBITDA is usually generated during the third quarter, i.e. at the peak of the tourist season.
The Valamar Group enters the third quarter, which represents the most important period of the tourist year, with positive expectations accompanied by the full operational contribution of new facilities and stable booking trends until the end of the year. In addition to investing in new capacities, Valamar is further strengthening its premium gourmet offer. Just three months after opening, Harry's Piccolo won its first MICHELIN star, becoming the first restaurant in Poreč to receive this recognition, while the restaurants JAZ by Ana Roš and the newly conceptualised Spinnaker were included in the MICHELIN Guide.
Along with continuous investments in the quality and development of its offer, Valamar continues to implement its sustainable development strategy. The company won the International Sustainability Award for activities in the field of sustainability, responsible tourism, decarbonisation and contributions to local communities, and at the beginning of 2026, Arba Resort on Rab and Pical Resort in Poreč received the gold DGNB pre-certificate in accordance with high standards of sustainable construction.
