Evaluation of Business Performance of Hotel Companies in Istria County

Hotelijerstvo na području Republike Hrvatske prošlo je kroz turbulentno povijesno razdoblje, a prvi oblici hotelijerstva sežu još iz vremena antičkog Rima. Značajan razvoj hotelijerstva dogodio se krajem 19. stoljeća kada je pušten u pogon željeznički i pomorski promet, što je u konačnici značajno utjecalo na gradnju ugostiteljskih objekata. Prva značajna ulaganja u hotelijerstvo Istarske županije evidentirana su pedesetih godina 19. stoljeća kada se otvaraju hotelska poduzeća na području Umaga, Poreča i Rovinja, grade hoteli i otvaraju turističke agencije. Istarska županija je do kraja 19. stoljeća bilježila sve veći porast dolazaka i noćenja domaćih i inozemnih turista te je ostvarivala preko 22% ukupnog turističkog prometa na području Hrvatske. Danas je hotelijerstvo u Republici Hrvatskoj regulirano cijelim nizom zakonskih i podzakonskih propisa, a istima su propisani zakonski uvjeti koje mora ispunjavati svaki hotelski objekt. Hotelijerstvo u Istarskoj županiji ima svoje specifičnosti zbog povoljnog geografskog položaja, bogate kulturne baštine i prirodnih resursa, pa i danas sudjeluje s više od 30% u ostvarivanju ukupnog turističkog prometa u Republici Hrvatskoj. S obzirom da je hotelski smještaj na ovom području stavljen u drugi plan u odnosu na privatni smještaj (apartmani i kuće za odmor) u diplomskom radu izvršena je komparativna financijska analiza uspješnosti poslovanja odabranih hotelskih poduzeća (Valamar Riviera d.d. i Plava Laguna d.d.) za razdoblje od 2017. do 2019. godine. Ova analiza provedena je s ciljem vrednovanja uspješnosti poslovanja hotelskih poduzeća u Istarskoj županiji. Temeljem prikupljenih godišnjih financijskih izvještaja odabranih hotelskih poduzeća horizontalnom analizom se nastoji uočiti i usporediti tendencija i dinamima poslovanja odabranih hotelskih poduzeća, dok se vertikalnom financijskom analizom izvode zaključci o strukturi u financijskim izvještajima.The hotel industry in the Republic of Croatia has gone through a turbulent historical period, and the first forms of hotel business date back to the time of ancient Rome. Significant development of the hotel industry occurred at the end of the 19th century when railway and maritime transport was put into operation, which ultimately significantly influenced the construction of catering facilities. The first significant investments in the hotel industry of the Istrian County were recorded in the 1950s, when hotel companies were opened in the area of Umag, Poreč and Rovinj, hotels were built and tourist agencies were opened. By the end of the 19th century, the County of Istria recorded an increasing increase in arrivals and overnight stays of domestic and foreign tourists and accounted for over 22% of the total tourist traffic in Croatia. Today, the hotel industry in the Republic of Croatia is regulated by a number of laws and bylaws, and they prescribe the legal requirements that must be met by every hotel facility. The hotel industry in the County of Istria has its own specifics due to its favorable geographical position, rich cultural heritage and natural resources, so even today it participates with more than 30% in the realization of the total tourist traffic in the Republic of Croatia. Considering that hotel accommodation in this area is put in the background in relation to private accommodation (apartments and holiday houses), a comparative financial analysis of the performance of selected hotel companies (Valamar Riviera dd and Plava Laguna dd) for the period from 2017 to 2019. This analysis was conducted with the aim of evaluating the performance of hotel companies in the County of Istria. Based on the collected annual financial reports of selected hotel companies, the horizontal analysis seeks to identify and compare the trends and dynamics of operations of selected hotel companies, while the vertical financial analysis draws conclusions about the structure in the financial statements