Sunčani Hvar Had the Best and the Longest Tourist Season in Its History

Total Croatia News

Great business results for Sunčani Hvar.

Sunčani Hvar has published the annual financial report for 2015, the year marked by the successful completion of pre-bankruptcy proceedings. With the total revenues of 226.9 million kuna, which is 30 percent more compared to the previous year, the company had its best and its longest tourist season ever, reports on February 27, 2016.

With the successful completion of the consolidation of the company, which has secured its financial stability, the annual results and profits from operations in the amount of 94.6 million kuna mean that the company has entered the phase of profitable operations, thus creating conditions for further growth and development.

The overall increase in operating income by as much as 16 million kuna in large part comes from the increase in revenues from accommodation services and from revenue growth in the food and beverage department, which was made possible by intensification of tourist arrivals outside of the high season and by the creation of additional motives for tourists to arrive at the destination, as well as by the advanced management of sales channels and successfully established pricing policies.

Although the company maintains above-average price of accommodation services, at the same time it has achieved a significant increase in the number of overnight stays by eight percent, which is higher than the average growth in the number of overnight stays within the national, regional and local tourism sector. This result confirms the strengthening of market position of the company and the successful positioning in the international tourism market.

Furthermore, the continued development of competitive tourist products, identifying the leading market niches and timely adjustments to global trends in all business segments, have been reflected in the rapid increase in the number of destination weddings and special business events, which is a strong indicator of a long-term development and success.

“With the number of weddings and business events growing by more than 105 in the past year, with nearly 20 percent increase in overnight stays in periods outside the high season, and with the announcement of 4 international conferences and 2 sports festivals during which the accommodation capacities have already been sold out, we can confirm that tourism does not just happen to us, but that it is a result of deliberate strategies and continuous efforts”, said Sunčani Hvar.

The focal point of the accommodation services on the island, the Adriana Spa Hotel, in 2015 achieved 180 days of full occupancy, which is 28 days more than the previous year, which is a strongly above-average result for an island and primarily holiday destination.

These operating results and growth in all key performance indicators, together with the profits, demonstrate that, through the process of the pre-bankruptcy settlement, the company has been successfully financially restructured for the long term, which has secured the final precondition for starting a new investment cycle.

Indeed, with the renovation of the Pharos Hotel, whose opening is expected in June this year, the company has launched a new investment cycle, which will have further impact on improving the quality and offer within the portfolio, but also on the standards of accommodation capacity of the entire destination. The new Pharos Hotel, which has been defined as a new tourism product, is completely focused on the needs facing the modern adventurer and will be the first lifestyle hotel in the region conceptually adjusted to the Millenials generation.

“The challenge is to do business in an environment and conditions which are outside of the standard framework of our tourism sector, from the key source markets and guest profiles to stakeholders. I am very pleased that the achieved business results are a product of strategy implemented under the management of Sunčani Hvar, and that the new hotel, like all the others, will be fully led by local management. I would like to point out that, for the successful completion of the pre-bankruptcy settlement and for the start of the new investment cycle, we have had a strong support of our major shareholders, but also of the local community, which is an important prerequisite for the successful implementation of our plans whose direct positive effects will be visible as early as this season”, said Gordana Tomičić, managing director of Sunčani Hvar.


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