Updated : Feb 9, 2025
Key Takeaways
- The data pertains to the countrywide performance details of Croatia’s hospitality and short term vacation rental industry from October 2023 to October 2024.
- An year-on-year surges in Average Daily Rate (ADR) and Revenue per Available Room (RevPAR) is observable. The highest ADR in this span was recorded as 175€, twice in October 2023 and July 2024, while the lowest at 126€ in March 2024. RevPAR peaked at 115€ in July 2024 and was the lowest at 14€ in October 2024.
- A pattern reveals higher Occupancy rates in summer months which might suggest a seasonality effect in Croatia tourism. The highest occupancy rate was 69% in August 2024, while the lowest was at 10% during off-season in October 2024.
- An increase in average bookings up to May 2024 is followed by a sudden drop to zero by August. It is critical to assess why no bookings were reported from August 2024 onwards.
- The number of active listings have generally been increasing over the year, with the highest in June 2024 (168777) and lowest in December 2023 (154942).
- The overall data points towards higher activity during summer months with a need for deeper investigation into the zero bookings from August 2024.
ADR Summary
The Average Daily Rate (ADR) for Croatia, when given in EUR, showed some notable trends over the previous year as per the tabular data provided. In October 2023, the ADR stood at 175€, followed by a decrease to 142€ in November 2023. December 2023 witnessed a slight rise at 153€ before it fell to 150€ in January 2024.
The following months observed a continued decrease, with ADR being 135€ in February and shrinking further to 126€ in March 2024. However, the trend reversed with ADR rising to 136€ in April and reaching 151€ in May 2024.
The positive growth continued with 159€ in June and peaking at 175€ in July 2024. The ADR then dropped slightly to 160€ in August before plunging to 133€ in September and later to 143€ in October 2024.
The ADR trend revealed that there appears to be a seasonal effect with the highest rates being reported in the summer months (June to August) before going down significantly in the autumn months, especially in October. This could imply a higher demand for listings during the summer months and comparatively less demand in the autumn.
RevPAR Summary
The given data shows the trend of Revenue Per Available Room (RevPAR), represented in Euro (€), for Croatia from October 2023 to October 2024.
Starting with a RevPAR of 38€ in October 2023, there was a downward trend, seen through consecutive drops to 21€, 22€, and 16€ in November, December 2023 and January 2024, respectively. In February 2024, RevPAR saw a slight decrease to 15€, before it began to recover in March to 19€.
From April 2024, there was an upward trend, with an increase to 34€. This trend continued over the months, peaking in July with a RevPAR of 115€. The summer months of June, July, and August recorded high RevPAR values of 70€, 115€, and 111€ respectively.
Post-summer, in September the RevPAR plummeted to 46€ and then collapsed to 14€ in October. The data suggests a strong seasonal effect, with higher values during the summer months and lower values in off-peak periods.
Read here: How to Calculate RevPAR.
Occupancy Rate Summary
The occupancy rate in Croatia showed a distinctive seasonal trend starting from October 2023 to October 2024. During the winter months from October 2023 to March 2024, the occupancy rates were relatively low, ranging from 11% to 24%. This trend reached its lowest point in January 2024 when it dropped to 11%.
However, starting from April 2024, the rates started to consistently climb up as the weather became warmer, indicating the beginning of the tourism season in Croatia. This upward trend reached its peak in the summer months of July and August 2024, with occupancy rates of 67% and 69% respectively. Here, the rates were more than triple compared to the occupancy seen during winter season.
Following the end of the summer, beginning from September 2024, the occupancy rates started to sharply fall. The rate in September was at 35%, almost half of what the summer peak was. It continued to drop drastically to 10% in October, indicating a return to off-peak season.
Overall, the trend indicates a clear seasonality in occupancy data for Croatia, with low rates during winter, gradually increasing in spring, peaking during summer, and falling back down during the fall and early winter months. This suggests a strong correlation with the tourist season, where the demand is highest during the warmer months.
Read here: How to Calculate Occupancy Rate.
Avg. Bookings Summary
The average booking trend for the entire country of Croatia shows seasonal characteristics. From October 2023, a gradual increase in average bookings can be observed, starting at 0.9. The average number of bookings then decreased slightly in November (0.8) and December 2023 (0.7), and began to rise again from January 2024, with bookings of 1.3.
This rising trend continued until May 2024, when the average bookings peaked at 2.0. There was a slight decrease in June (1.9) and July (1.8) 2024, but it was still relatively high. However, the trend then underwent a dramatic change, with a drastic drop to zero average bookings during August, September, and October 2024.
This data suggests a cycle of bookings that starts to grow at the beginning of the year, peaks in the spring, and then falls significantly towards the end of the summer.
Count of Active Listings Summary
The past trend of the count of active listings in Croatia shows a general fluctuation over the observed time period starting from October 2023 to October 2024. Starting with a count of 162,077 listings in October 2023, the count decreased consistently over the next three months, reaching its lowest at 154,942 listings in December 2023. This downward trend was reversed from January 2024, where the count of active listings started to increase, climbing to 157,777 in January 2024 and reaching 160,754 listings by March 2024.
The count fluctuated marginally between April 2024 and May 2024, then rose significantly to the highest count of 168,777 in June 2024. However, a mild decline was seen in July with 166,740 listings. From August to September 2024, the count again rose marginally to 167,608 and then reduced to 166,401 respectively. By October 2024, the data shows a further decrease to 163,556 active listings. Overall, there were initially consistent decreases, then periods of increases with some subsequent mild decreases and fluctuations.
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About Short-term Rental Index
The World STR (Short-term Rental) Index by PriceLabs is a free tool for tracking short-term rental market performance worldwide. It offers data from Airbnb markets worldwide, refreshed monthly. You can access free insights on which locations are gaining or losing popularity. Key features include:
Compare: Compare year-over-year metrics like active listings, occupancy rates, RevPAR, and ADR.
Trend: Visualize how metrics have changed over the past years.
Pacing: Compare upcoming year metrics to the previous year for occupancy, ADR, and RevPAR.
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