Company profile
Villa Dubrovnik d.d., based in Dubrovnik, is a distinguished tourism company established in 1993 through the transformation of the existing company Villa Dubrovnik into a joint-stock company. With its rich history and tradition, this company today represents a symbol of quality and luxury in Croatian tourism. The company consists of two exceptional hotels: the iconic Villa Dubrovnik, located east of Dubrovnik's Old Town, epitomizing luxury and elegance, and D Resort Šibenik, a design boutique hotel with unforgettable views of Šibenik's Old Town, situated in a luxurious marina.
Villa Dubrovnik and D Resort Šibenik are known for their exceptional locations, sophisticated services, and exclusive location by the Adriatic Sea, attracting guests seeking an exclusive and authentic experience. Their architecture seamlessly blends into the surrounding landscape, with interiors designed to reflect the local cultural heritage, combining modern luxury with traditional elements.
Over the years, Villa Dubrovnik d.d. has undergone various phases of ownership transformation, becoming a leading player in Croatian hotelier business. Following privatization and change of majority shareholders, the company continued to expand its influence, and in 2021 it was acquired by Erste Plavi Pension Funds, further strengthening its market position.
Besides providing exceptional hotel services, Villa Dubrovnik d.d. is committed to maintaining high standards in the tourism industry.
The company operates 128 accommodation units in its 2 hotels and employs 170 staff members at the peak of the tourist season, generating €12 million in business revenue in a regular year. Significant ongoing investment in Hotel Villa Dubrovnik will further strengthen the market position of this hotel, ensuring continued business growth and profitability.
Reasons and objectives for stock exchange listing
In June 2021, ERSTE Plavi Pension Fund acquired the majority share package of Villa Dubrovnik Company; their investment policy is focused on companies listed on the stock exchange. The Company's shares were listed on the Regular Market of the Zagreb Stock Exchange on June 21, 2021, with the first trading day on June 24, 2021.
By listing its shares on the Regular Market of the Zagreb Stock Exchange, the Company turned a new page in market, financial, and exchange behaviour and further development as a modern corporate company.
The listing of Villa Dubrovnik d.d. shares on the Zagreb Stock Exchange offers visibility in the capital market among investors, both large institutional and small shareholders, as well as our guests and business partners.
Listing on the Regular Market of the Zagreb Stock Exchange brings numerous benefits for the Issuer and all stakeholders, primarily investors and financial institutions, reflecting in simpler and easier access to more favourable sources of financing for the company's growth and development, achieving transparent communication with all stakeholders, gaining access to a wider range of potential investors and partners, and strengthening business reputation. Ultimately, it offers the possibility of raising additional capital through the issuance of new equity or debt securities, if needed.
The hotel industry is capital-intensive, requiring constant investment in physical assets, staff, and product development to maintain and strengthen the company's market position. The nature of the industry and the constant need for equity and debt capital necessitate transparency and good corporate governance practices, ensuring future fundraising for further growth and development.
Sustainability
Villa Dubrovnik d.d. is an integral part of a community that nurtures a tradition of environmental protection. Our philosophy, based on the Renaissance idea of "Unity of Man and Nature," is reflected in the rich heritage of the cities we operate in, Dubrovnik and Šibenik, which are under UNESCO protection. As prominent representatives of a unique cultural and ecological landscape, we are deeply committed to preserving the environment and promoting the well-being of not only the current but also future generations.
Our environmental responsibility is demonstrated by adhering to national and international environmental laws, and striving to reduce consumption of water, energy, paper, and other resources. We actively manage waste, reducing the total amount and increasing the recycling rate. We prioritize the use of renewable materials and eco-friendly chemical products that are not harmful to the environment. Furthermore, we educate our guests about environmentally friendly products and practices desirable in our local community.
In terms of social responsibility, Villa Dubrovnik d.d. focuses on creating a stimulating and pleasant working environment. We work on strengthening ties with the local community, supporting various citizen associations and local government bodies. Our collaboration extends beyond large systems to small, local suppliers, contributing to the development of the local economy. Our social responsibility policy aims at growth and development, creating benefit for all our stakeholders, including guests, employees, and the community we operate in.
Regarding compliance and business practices, our company adheres to all relevant national and international financial reporting and corporate governance standards. We carefully consider all ESG risks in our daily operations, with a special emphasis on conserving natural resources like water, air, soil, and biodiversity. Using high-energy-class devices and machines, planning to replace vehicles with electric ones, applying energy-efficient technologies, and reducing unnecessary energy consumption through various measures and employee education, achieve this.
Our social responsibility policy is implemented through transparent and open communication with stakeholders, developing local and regional economies, employing local population, caring for employees by ensuring rights to personal and professional development, engaging local suppliers, a system of corporate philanthropy, and activities in the area of developing destination offerings and contents.
In our operations, we adhere to principles and practices of good corporate governance, with a high level of transparency and accountability to stakeholders. Villa Dubrovnik has a dualistic management structure, clearly separated powers and responsibilities, adheres to a code of corporate governance and a code of business ethics, sets clear business goals, respects and applies principles of diversity and equal opportunities. Documents on the work of all corporate governance bodies are available on the website, accessible to existing and potential investors. Continuous activities are directed towards service excellence and operational processes, through the implementation of domestic and international management standards, service quality, and safety. Our sustainable business strategy opens new opportunities for business development and sustainability through the continuous development of new products and services, thereby creating benefit for all business process stakeholders.
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