Ivica Max Krizmanić
Episode · #417
TURIZAM 385 Ivica Max Krizmanić
Guest Ivica Max KrizmanićHosted by Goran RihtarićMay 3, 2026
Ivica Max Krizmanić
About this episode
What you'll hear in this conversation
Navigating a century-old institution through a global crisis demands a particular kind of steady hand — one that respects legacy while aggressively adapting to new realities. Ivica Max Krizmanić, director of Zagreb's Hotel Esplanade, offers a candid look at the challenges and unexpected shifts in the luxury hospitality sector. He reveals how a hotel synonymous with tradition has maintained its allure and profitability in a changed world, from retooling its offerings on the fly to grappling with a transformed labor market. This conversation explores the delicate balance between upholding a storied brand and making the daily, pragmatic decisions that keep its doors open and its spirit alive.
Insights from the conversation
What to take from this episode
01
Esplanade's occupancy rate, over 60% and 80% of 2019 levels, is an "excellent result" for a city hotel after the pandemic. This suggests that even luxury city hotels, traditionally reliant on business travel, can recover quickly by pivoting their offerings to meet new market needs.
02
During 2021, the hotel's "flexibility" meant changing F&B and M&E offers to "bring in certain revenues that sustained us." A brand's resilience isn't just about its name; it's about the agility to invent new revenue streams within its existing infrastructure during lean times.
03
Krizmanić insists that the Esplanade's image, despite its 1925 founding, is not static; it requires "constant maintenance." Guests feel a "great sense of security" in the hotel. A strong brand name provides an advantage, but it must be actively reinforced daily through consistent service and perceived safety, especially in uncertain periods.
04
While summer used to be a weaker period, in the last ten years, it has "approached those top months" (May, June, September, October) due to the leisure segment filling nearly 90% of the hotel. Traditional seasonality can shift dramatically over time, forcing hotels to re-evaluate their marketing and operational focus for different periods.
05
The current booking window for Esplanade is short, often just "two weeks," with a 15% increase in bookings happening in a single day. This kind of spontaneous, late-stage booking demands agile revenue management and a willingness to operate with less long-term predictability.
06
Weekends, once considered low season for city hotels, have now become "high season" for Esplanade, with weekdays and weekends having "equalized." Guest behavior can invert historical patterns, meaning a hotel must be prepared to staff and price for peak demand seven days a week.
07
The hotel is currently focused on F&B, events, weddings (due to a backlog from 2020-2021), and leveraging its "very attractive" 1200 square meter outdoor terrace for events. Diversifying revenue streams beyond just rooms, especially by maximizing underutilized physical assets like a large outdoor space, is a key strategy for city hotels.
08
While Esplanade remains "attractive for employment," Krizmanić notes fewer applicants for openings and "greater fluctuation" among new hires. Even prestigious brands are not immune to the labor market challenges; finding and retaining staff who embody the "Esplanade spirit" requires more effort than before.
09
Krizmanić states that owners "will be forced to increase wages" up to a "sustainable level." The market will ultimately dictate wage increases in tourism, pushing them to the point where they are competitive enough to attract staff while still allowing for a reasonable profit margin.
10
Pricing is not solely based on costs but on "what someone can afford to pay," with revenue management determining room rates. You can't simply raise prices to cover costs; the market sets the ceiling, forcing hotels to find efficiency or accept tighter margins if their target guests have a limited willingness to pay.