INVESTMENT EFFICIENCY IN NEW HOTEL BUILDINGS IN CROATIA
Journal Title: UTMS Journal of Economics - Year 2012, Vol 3, Issue 2
Abstract
Abandonment of mass tourism in the late 80-ies of 20th century and attitude of humane tourism oriented to the needs and requirements of individuals, it is characterized by changes in the design and architectural design of hotel facilities. Features and functionality of hotel facilities are affected by trends in tourism demand. Tourism gets new features, which hotel companies must adapt. Individualism, humanism and hedonism are the guidelines that accompany the tourist industry in the 21st century. They determine the new considerations shaping and arranging hotel facilities, and the need for transformation of the hotel buildings designed for mass tourism in facilities for contemporary tourist who is aware of his needs, desires and aspirations. These trends should be monitored and the hotel industry in Croatia. The last decade marked by investments in reconstruction and modernization of existing hotel facilities, but investment in new hotel facilities are still minor. The reason for this is the fact that the hotel industry is low profitable activity, but also in the unfinished privatization, lack of domestic financial capital and the lack of attractiveness of the Croatia to attract foreign capital which would allow meaningful construction of new and rehabilitation of existing hotel facilities in line with trends in the tourism market. This paper critically examines the state of the hotel industry in the Republic of Croatia and its competitiveness in Europe, and it presents the results of research on the effectiveness of building a fictional hotel in Croatia, with a comparative analysis with European hotels.
Authors and Affiliations
Slobodan Ivanovic, Miroslav Pretula, Eddy Rot
Keywords
Related Articles
- EP ID EP273892
- DOI -
- Views 140
- Downloads 0
APPLICATION OF DIVIDEND DISCOUNT MODEL VALUATION AT MACEDONIAN STOCK-EXCHANGE
Dividend discount model (DDM) is the simplest model for valuing equities in finance. Many analysts belived that DDM is outmoded, but much of the intuition that drives Discounted Cash Flow (DCF) valuation is embedded in t...
DEVELOPMENT AND IMPROVEMENT OF BUSINESS HIGHER EDUCATION THROUGH IMPLEMENTATION OF STUDENTS LEARNING OUTCOMES ASSESSMENT PLAN (SLOAP)
This study presents new vision how to upgrade business higher education at the Faculty of Economics at University of Tourism and management in Skopje (UTMS). This paper is result of analyses of best practices of leading...
GEOGRAPHIC POSITIONING AS A DETERMINATION OF TOURISM DEVELOPMENT OF GEVGELIJA REGION
The research of this paper is about casinos in the southernmost city in the Republic of Macedonia – Gevgelija, its geographical position and their role on the development of gambling tourism. Gambling tourism as a specia...
GENERAL CHARACTERISTICS OF RELIGIOUS TOURISM IN CROATIA
Croatia has a rich sacral (tangible and intangible) heritage, which undoubtedly has great cultural value, and part of the religious heritage has been included in the World Heritage List of UNESCO. The fact is, however, t...
FINANCIAL ANALYSIS FUNDAMENT FOR ASSESSMENT THE VALUE OF THE COMPANY
Lack of capital market development cause that calculating the value of companies in the small markets, such as the Croatian market, is carried out primarily from the analysis of financial statements. Lack of market devel...