The total revenue of Arena Hospitality Group in the first half of the year amounted to 258.4 million kuna, 8 percent higher compared to the same period last year, while the total loss decreased by 0.8 percent to 23.7 million kuna, according to the financial report of this tourism company.
>>>Arena Hospitality achieved 712.2 million kuna in revenue
The total expenses of the company simultaneously amounted to 282.5 million kuna, which is 3.7 percent higher than last year. EBITDA in the past half-year was 24.3 million kuna, which is 20.8 percent higher than a year ago.
Regarding operations in Croatia related to hotels, tourist resorts, and camps, the total revenue in the first half of this year amounted to 137.3 million kuna, representing a growth of 9.7 percent compared to the same period last year. In Croatia, they had 764,748 rooms, 4 percent more than last year.
The report also highlights that their portfolio in Croatia is characterized by seasonal business with the majority of guest arrivals occurring from June to September. However, they attribute the revenue growth in the first half of the year to good business in March and May due to an increase in overnight stays related to the Easter and Corpus Christi holidays.
It is also noted that the hotel industry in Istria recorded an increase in visitors from January to June 2018 of 8.8 percent compared to the same period the previous year.
Arena Hospitality Group invested 84.7 million kuna in preparing for this year’s season, with the investment related to the renovation of rooms and common areas of hotels, tourist resorts, and camps.
