Kupari resort – Dubrovnik, Croatia

Office: Horwath HTL Croatia

Project Overview: The investor – Avenue Financial Services Ltd. was in the bidding process for an attractive location nearby Dubrovnik. The subject location was one of the major tourism resorts in the pre-war time, heavily devasteted during the 1990’s. The Croatian Government published a tender for Kupari tourism development project as a long term concession. The Investor has appointed Horwath HTL to prepare an independent Market Study and Best-use Concept for Kupari I. development.

Horwath HTL Solution: Horwath HTL Zagreb has on this assignment worked alongside leading master planners and architects (EDSA and 3LHD).
Horwath HTL has within this project covered the following tasks:

  • Independed evaluation of supply and demand factors affecting the luxury (and upper upscale) tourist market;
  • Based on market analyses – Market strategy proposal for Kupari I. Development;
  • Project’s Best-use Concept – based on carried out market analyses and proposed market positioning of Kupari I. Development; (best-use concept is in line with general requests of hotel brands of proposed positioning segment);
  • Development of business model and branding proposal;
  • The key assumptions for pre-feasibility study of Kupari I. development.

Implementation: Based on the proposed concept the master planers and architects team have produced the Master plan for the subject project and the Investor has signed a Letter of Intent with Ritz Carlton. The bidding process was successfully completed and the Investor has been selected by the Government to enter into Kupari project development. Estimated investment required to develop the subject resort is EUR 100 million and will significantly impact the tourism picture of entire Dubrovnik riviera.