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BENCHMARK REPORT: Yearly Hotel & Camping benchmark analysis (Summer season perspective)
In the summer of 2023, Croatia experienced a slight increase in overnight stays, driven primarily by a 2% rise in hotel accommodations and a 5% growth in non-commercial accommodation. TRevPAR is 13% higher, it grew primarily through a 12% increase in prices and a slight decrease in occupancy of 1.4%. Hotel accommodation prices increased by 12%, surpassing the average inflation rate of 7%. In the camping sector, despite a slight decline in overnight stays, camps witnessed a 17% growth in revenue. Mobile homes become a serious competitor to 4-star hotels, boasting a 6% higher RevPAR and a 4% increase in ADR. Additionally, the occupancy rate of mobile homes reached parity with that of 4-star hotels, a notable achievement considering it was 5 percentage points lower in the 2022 season.
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BENCHMARK REPORT: Yearly Hotel, Camping & Marina benchmark report
After 2 consecutive, challenging years caused by COVID, Croatian tourism has fully recovered, with 6% higher revenues than in 2019 – primarily driven by a +20% average price increase. On the other hand, Croatian hotels are still underperforming in comparison to their European peers and local good practices. Our analysis shows that 69% of 4* and 5* hotels have below-average performance. The beforehand mentioned is a result of a continued lack of innovation, investments, and an inability to rethink current business models. As a result of these activities, the camping homes/cabins, with an average annual ADR of 139 EUR, are outperforming the average 4* hotels (ADR = 120 EUR), which is a clear indication of the need for action – because even though we see a revenue recovery, the cost increase puts strong pressure on profit margins and overall returns in the industry.
CONSTRUCTION & REAL ESTATE SENTIMENT: Yearly key stakeholders mid-term expectations
Construction & Real Estate industry has been an extremely interesting topic in the period from 2019 to 2023 with record highs, shifting demand, pandemic challenges and other factors influencing the market. In our report we have analysed the trends and drivers on the market, and jointly with key industry stakeholders assessed potential future developments.
ATTRACTIVENESS OF WINE TOURISM IN CROATIA: Analysis based on market research from the perspective of consumers
Wine tourism in Croatia has a great perspective, and the research indicated an additional one from domestic guests. As many as 71% of respondents in the last two years were not wine tourists, on the other hand, 74% are interested in wine tourism. A significant market potential has not been exploited yet, such as the provision of content and activities in wineries or wine museums.
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WINEMAKING TRENDS IN CROATIA: Analysis based on market research from the perspective of consumers
World wine production is in a continuous decline of 1.6%, while from 2020 to 2021 the largest decline in wine production of 13% was in Europe. The covid-19 pandemic has caused a decline in wine consumption worldwide. Although the market share of wine in Croatia has been declining since 2015, it has maintained a 25% share during the pandemic. Croatia is the largest importer of wine in the region, but 76% (red wines) and 79% (white wines) of consumers still prefer wines of Croatian origin.
CROATIA CONSTRUCTION SECTOR SENTIMENT: Mid-term expectations of the Croatian construction sector
The construction sector in Croatia remains confident in its swift recovery primarily boosted by announced infrastructure projects and demand for quality housing. With no significant impact by the pandemic, the construction industry pushes forward with positive mid-term expectations. Read more in our Croatia construction sentiment study.
WINE PRODUCTION EFFICIENCY BENCHMARK: Performance benchmark of Croatian wineries and comparison to global practices
The competitive environment within the wine industry is becoming extremely challenging. Pressures from new efficient global players, increase in quality in the local competitors and strong pressures from other alcohol players (i.e. beer, gin, whiskey) are putting most of the wineries to the test. This year with the COVID-19 pandemic, the challenges will become even more extreme as consumption patterns shifts and tourism dependent wineries will surely experience a plunge in sales. In either case chasing efficiency will become even more relevant for survival and in this sense we would like to assess the current position of local wineries in comparison to global players.
TOURISM & COVID-19: “Corona summer season”: Sentiment of Austrian tourists
With the COVID-19 pandemic still active and the summer season knocking on the door, all the tourism stakeholders have the same question – How much of this summer season can we really save? From a perspective of international demand, some factors have definitely negatively impacted the position of Austria – such as the PR exposure of the alleged role of Tirol skiing areas in spreading the virus into multiple countries. On the other side Austrians have always been keen towards domestic travels, and with the right push may potentially be a strong card to play on.