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Croatia Allows Mixed-Use Resorts
Croatia is an increasingly popular leisure travel destination in Europe. The Adriatic coast is widely known and praised for its beauty and amazing climatic conditions. Previously the development of this region was slowed down by the ban of the local government that prohibited the building of large mixed-use resorts. Now the ban is lifted and this fact may encourage developers to build modern and high quality resorts in the coastal zone.
Greenfield development will be done carefully, so that high-end resorts won’t spoil pristine marinas of the Adriatic coast. Both government and investors are interested in developing this region. It is reported that much attention will be paid to questions of planning and ownership. Right now these issues are not resolved.
Other sphere of development concerns buy-out of abandoned hotel properties and their renovation. Many of the distressed resorts are in state ownership and they desperately need modernization. This year the government plans to privatize 15 hotels in Croatia in state ownership. The majority of them are located on the Adriatic coast, and so they may be very attractive to investors.
The importance of Croatia as a European holiday destination keeps growing, and, thus, hoteliers will definitely want to open their resorts here. The Adriatic coast is famous for 1,244 beautiful islands along the coast, 8 national parks and 16 sites added to the list of UNESCO Heritage. Various attractions, quality tourism infrastructure and close proximity to historic places of interest make this region an excellent destination for leisure rest.
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