Company profile
Medora hotels and resorts with headquarters in Podgora provides hotel accommodation and hospitality services. Company Medora hotels and resorts is among the leading hotel companies of the Makarska Riviera in terms of quality standards, business sustainability, positive business reputation and status as a desirable employer. The fundamental goals of the Company are to be at the very top of the Croatian hotel industry through sustainable operations in a broader sense and constant improvement of all business indicators, taking into account the interests of all stakeholders - from business partners, company employees, local community to Company shareholders.
In 2023, the company managed Hotel Medora Auri 4*, with a capacity of 253 accommodation units, and the Auto-camp Medora Orbis 4* with a capacity of 75 accommodation units, achieving total revenues of EUR 11.4m (2019: EUR 10.8m) with projected earnings measured by the EBITDA indicator in the amount of EUR 3.8m (2019: EUR 2.9m), whereby the realized EBITDA percentage margin was 34% (2019: 27%), which indicates a high level of efficiency of the Company's cost management, but also market recognition and high demand. The total number of overnight stays was 165 thousand (2019: 215 thousand), with occupancy of 87% (2019: 73%) measured on the basis of operating days in the current year.
Realized RevPAR amounted to EUR 37k (2019: EUR 30k) of pension income per accommodation unit of the Hotel Medora Auri and EUR 30k (2019: EUR 17k) of pension income per accommodation unit of the mobile home type of the Medora Orbis Camp, i.e. EUR 6k (2019: EUR 2k ) of pension income per accommodation unit of the plot type of Medora Orbis Auto-camp.
Hotel Medora Auri 4*, one of the few in Croatia, is the holder of the prestigious "Travelife Gold" certificate, which evaluates work in hotels that, through their business processes, promote a sustainable way of doing business, environmental protection, local, cultural and natural heritage.
Proof of the exceptional quality and satisfaction of hosted guests are the ratings achieved on the relevant global online portal for sales, where Hotel Medora Auri is rated 9.1 / 10 based on 2,700+ guest reviews, where it is important to emphasize the continuous improvement of the services provided over the years , visible on the consolidated assessment (from 8.6 in 2020, 8.9 in 2021, 9.0 in 2022). Medora Orbis auto-camp achieved an extremely high score of 9.5/10, making it the best-rated camp in the Republic of Croatia.
Reasons and objectives for stock exchange listing
By listing on the Zagreb Stock Exchange, the Company achieved many advantages, such as easier access to more favorable sources of financing and transparent communication with all shareholders (almost 2,000 of them) through reporting on business results under the supervision of regulatory authorities.
The monitoring of the market value of the shareholders' shares is also facilitated, and of course the possibility of collecting additional capital through the issuance of new equity or debt financial instruments is provided, if the need for the same is shown.
The listing itself on the stock exchange implies that the Company adheres to high principles and standards of corporate management, and as a result of the aforementioned, the Company has increased its reputation among current and potential guests, employees and investors.
Sustainability
In 2022, Medora hotels and resorts have started adapting to the upcoming European Commission legislation, according to which from 2025 they will be obliged to report on the environmental, social and management components in accordance with the Corporate Sustainability Reporting Directive.
E (Responsibility for environmental protection) - a continuous effort to preserve the environment, reduce harmful emissions and achieve carbon neutrality. The company's goal is to achieve the most responsible waste management, reduce water consumption and increase the share of water and waste recycling, and achieve the largest possible share of local products in the procurement of food products.
S (Social responsibility) - In accordance with the corporate culture, the Company recognizes all stakeholders within its operations, starting with employees and constant cooperation with trade unions, with the goal of creating a stimulating work environment. It is also focused on the local community, with which it maintains a long tradition of cooperation, with constant support for various citizens' associations as well as local self-government bodies. The company creates a stimulating environment for business partnerships not only for large systems but also for small, local suppliers. The company's goal in terms of social responsibility is growth, development and creation of added value for all stakeholders, guests, employees and the destination where we operate.
G (Operation and compliance) - The company applies all relevant national and international standards of financial reporting and corporate governance, and thus adheres to all relevant standards in the field of sustainability, carefully considering all ESG risks in part of daily operations.
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