Croatia’s hotel business continues to recover

Croatian hotel operator Liburnia Riviera Hoteli said it closed the first half of this year with a pre-tax loss of €3.7 million, improving its result by €1.5 million on the previous year. The company’s total revenue increased by 28% compared to last year and amounted to 20.3 million euros for the reporting period. Sales revenue also increased by 28% to €19.1 million.

Croatian lender Privredna Banka Zagreb said it has signed a €31.2 million loan agreement with local state development bank HBOR for a five-star hotel project in the Adriatic city of Zadar. This will be the third hotel owned by Dogus and managed by Hyatt International. This will also be the first Hyatt-branded hotel in Croatia. It is expected to open in the last quarter of 2024.

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