An impressive increase and record figures that have been recorded in arrivals and overnight stays this year only confirm that the tourism industry is the most profitable part of the fragile Croatian economy.
Although private accommodation still dominates the country's tourist offer, hoteliers have achieved great results and made the best out of tourist potentials along the Adriatic coast.
Over the past few years, leading hotel groups have initiated an investment wave that has led to a rise of the accommodation quality and the number of four-star and five-star hotels. Modernization has brought higher service standards and numerous additional attractions that attract tourists that are more demanding.
With the development of tourist services on the Croatian market, first class hotel brands have also appeared on the tourist scene. Currently twelve global and six European brands are branding 46 hotels with 9,500 rooms in the country.
Croatia is characterized by a very high level of consolidation of the hotel market, as it is evidenced by the fact that the 10 largest domestic hotel and tourism companies are managing more than 40 percent of the total hotel rooms.
The lion's share of the market pie goes to the two leading groups – Valamar Riviera and the Luksic Group, which unites three major hotel companies in its portfolio (Plava Laguna, Istraturist Umag, and Adriatic Luxury Hotels).
Here are the Top 10 largest hotel companies in Croatia
1. Valamar Riviera ( 1,559,000 million Kunas in revenue; 2,594 employees)
2. Maistra ( 955 million Kunas in revenue; 1,561 employees)
3. Plava Laguna ( 545 million Kunas in revenue; 942 employees)
4. Istraturist Umag ( 482 million Kunas in revenue; 1,059 employees)
5. Adriatic Luxury Hotels ( 453 million Kunas in revenue; 770 employees)
6. Arena Hospitality Group ( 392 million Kunas in revenue; 652 employees)
7. Solaris ( 354 million Kunas in revenue; 733 employees)
8. Liburnia Riviera Hotels (295 million Kunas in revenue; 602 employees)
9. Grand Hotel Lav ( 280 million Kunas in revenue; 193 employees)
10. Jadranka Hotels ( 264 million Kunas in revenue; 688 employees)