While there is expected to be an increase in current value sales in comparison with 2021, sales are still expected to be significantly below pre pandemic levels. The need for social distancing and extra hygiene measures has increased costs for lodging operators, while at the same time operators needed to offer competitive pricing to encourage guests to stay.
Summer is the key season for hotels in Croatia in 2021, as border is reopened in May, with Easter losing out on vital visitor numbers. The Arenta Arena Hospitality Group reopened its Pula-based Hotel Brioni in time for the summer season, after spending HRK260 million on refurbishment.
Value sales of lodging are set to increase by a double-digit constant CAGR over the forecast period as the most stringent of the COVID-19-related restrictions on movement are lifted and as consumers regain their confidence in travelling. On the other hand, it is expected that there will be increased price sensitivity due to the economic fallout of the pandemic.
There has been significant merger and acquisition activity in recent times, such as the buyout by global travel company TUI of local hotel operator Zivogosce Hotels. This activity will continue in hotels over the forecast period, due to Croatia’s increasing popularity as a holiday destination.
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Understand the latest market trends and future growth opportunities for the Lodging industry in Croatia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Lodging research and analysis database.
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