European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent academic observatory making Europe’s listed growth companies visible.

Francesco Castellaneta, Full Professor of Strategy, SKEMA Business School · Scientific Committee Diego Zunino and Jackie Krafft

← All companies

Annual rank92

Croatia · Consumer Cyc.

Imperial Riviera

Hospitality operator serving guests across ten hotels, three resorts and two campsites in Croatia.

+68%revenue growth
FY2022–FY2025
+1404%net-income growth
FY2022–FY2025
+14%stock return
FY2022–FY2025
+6%2026 stock return
current context only

Company profile

Destination assets connected by Valamar's hospitality platform

Imperial Riviera owns a multi-format Croatian hospitality portfolio across Rab, Makarska, Poreč and Dubrovnik. Its assets range from heritage and premium family hotels to lifestyle accommodation and campsites. Consumer products are presented through Valamar brands, while the listed company retains its own investor identity and combines the histories of Rab-based Imperial and Hoteli Makarska.

Portfolio

Fifteen properties across four Croatian destinations

Imperial's official portfolio records 10 hotels, three tourist resorts and two campsites, together offering 4,466 accommodation units and capacity for 10,700 guests. Rab supplies the widest mix; Makarska adds three beachfront formats, Dubrovnik adds a resort cluster, and Valamar Parentino Hotel gives the company an Istrian position in Poreč.

Rab

A new family flagship beside a restored heritage hotel

Arba Resort is a premium all-inclusive family product with six pools, a 1,500-square-metre family area, an 800-square-metre spa and access to the Capo Fronte forest. Imperial Heritage Hotel serves a different trip: a restored property near Rab's old town, with Nobilis and Veritas dining, wellness and transfers to nearby beaches.

Guest propositions

Lifestyle, meetings and family formats share one system

In Makarska, Dalmacija [PLACES] combines flexible dining, music, games and access to Biokovo activities. Valamar Lacroma adds a large Dubrovnik meetings and leisure product, while Parentino focuses on family stays close to Poreč. These properties show how the portfolio targets different occasions without presenting every asset under one hotel concept.

History and platform

Two local tourism histories converged after 2016

Imperial was formed on Rab in 1965; Hoteli Makarska traces its company history to 1952. Imperial says Valamar Riviera and Allianz ZB have managed it since the 2016 privatisation. Hoteli Makarska merged into Imperial in 2019, creating Imperial Riviera and bringing destination assets onto a common investment, brand and operating platform.

Current 2026 update

What has changed in 2026?

Q1 2026 · 30 April 2026

Q1 2026latest official update
4company-specific highlights
+6%2026 stock return · context only

Total revenue

Q1 total revenue increased 49.1% to EUR 3.1 million.

Q1 2026 · EUR 3.1m · +49.1%

Board revenue

Q1 accommodation and food-and-beverage board revenue increased 73.7% to EUR 1.7 million.

Q1 2026 · EUR 1.7m · +73.7%

EBITDA

The Q1 EBITDA loss widened to EUR 7.1 million from EUR 6.9 million, in line with the seasonal opening schedule.

Q1 2026 · EUR -7.1m

Profit

The consolidated Q1 net loss widened to EUR 11.4 million from EUR 8.2 million.

Q1 2026 · EUR -11.4m

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202592+68%+1404%+14%