Dubrovacka Rivijera to invest EUR 50 million in three hotels

Astarea Hotel (Photo: dubrovnik-riviera-hotels.hr)

The European Investment Bank (EIB) and the Croatian Bank for Reconstruction and Development (HBOR) have inked an agreement to extend a EUR 25 million loan to the Hoteli Dubrovacka Rivijera company which is going to invest that money in the modernization and renovation of two existing buildings and accompanying facilities on the Mlini site and the construction of new hotel on the Srebreno site.

Proceeds of aforementioned EUR 25 million loan will be used to finance a half of the total investment of about EUR 50 million that was announced in late 2012 by Hoteli Dubrovacka Rivijera that is majority owned by the HUP-Zagreb company.

This company is going to have hotels Astarea and Mlini with accompanying bungalows in Mlini and Orlando Hotel with five villas in Srebreno reconstructed.