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Industry revenue of »hotels and similar accommodation« in Croatia 2011-2023

The revenues of the hotels and similar accommodations industry in Croatia grew over 50 percent between 2011-2019, fuelled by an increase in the number of hotels, tourist arrivals and rise in overnight stays. The Valamar Riviera is the leading hotel chain group in the country, with 35 hotels, followed by Plava Laguna, Liburnia Riviera and Bluesun H&R.

Initial projections for the medium term demonstrated a CAGR of 3.25 percent for the industry. However, with the outbreak of the Covid-19, which has hit the travel and tourism and hospitality industries the hardest, it now seems rather far-fetched. The Liburnia Riviera has already witnessed 64 percent booking cancellations in March and 62 percent in April whereas the Medora Auri, another famous four star hotel, has been shut for atleast a two week period. The city of Dubrovnik, one of the most popular cities in the country, usually frequented by over a million tourists, is anticipating a loss of 30 million Kuna for the first half of 2020, as operations have come to a near stand-still.

Industry revenue of »hotels and similar accommodation« in Croatia from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Croatia. The industry “hotels and similar accommodation“ has the code “I551“.

Details on the methodology can be found here.

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