Leading hotel companies perform better than in 2021, some even better than in 2019

Croatia's leading tourist and hotel companies performed better in 2022 than in 2021, and some exceeded even the record-breaking 2019, and most of them announce the continuation of investment, employment and improvement of working conditions in 2023, according to their annual financial statements.

High tourist demand for Croatia and an increase in service prices due to this higher demand helped these companies achieve excellent results in 2022.

The largest hotel company, the Valamar Riviera Group, generated HRK 2.5 billion in total revenue in 2022, which is an increase of more than HRK 800 million or 48.9 percent compared to 2021.

Maistra from Rovinj, which is part of the Adris Group, generated almost HRK 1.6 billion in total revenue last year, about HRK 345 million more than the year before. 

In 2022, the Arena Hospitality Group earned HRK 828.4 million in total revenue compared to HRK 471 million in 2021, and its total expenses also increased, to HRK 767.6 million from HRK 468 million in 2021.

One of the largest tourist hotel companies in Dalmatia, Sunce Hotels, ended last year with total revenues of HRK 475.3 million, which is about HRK 118 million more than in 2021, with an increase in total expenses to HRK 443.6 million, from HRK 357.9 million the year before. 

Some tourism companies have already announced the payment of dividends to shareholders through the Zagreb Stock Exchange. 

Thus, Valamar Riviera announced a general assembly for April 24, at which a decision will be made on the payment of a dividend of €0.20 per share. The dividend would be paid from the retained profit of €24.5 million generated in 2019.

(€1 = HRK 7.53)