The COVID-19 pandemic significantly impacted global tourism, including Croatia’s hotel industry. This study examines the resilience of Croatia’s premium-class hotels during the pandemic, explores investment strategies, and proposes a sustainable tourism framework. Using secondary data analysis and an online survey of sales and marketing directors from 4-star and 5-star hotels in Adriatic Croatia, the research focused on key performance indicators such as occupancy, average daily rate (ADR), revenue per available room (REVPAR), and total revenue per available room (TREVPAR). Findings reveal that premium-class hotels were more resilient, with quicker recovery, higher ADR, and longer operational periods than lower-class hotels. Istria recovered faster due to proximity to major markets, while Dubrovnik struggled with its reliance on cruise and flight tourism. Investment strategies highlighted ‘new luxury,’ sustainability, and authentic local experiences. The proposed framework suggests strategic initiatives for government support, sustainable high-quality tourism, financial incentives, and public-private collaboration. This study adds to luxury hospitality literature and offers actionable recommendations for enhancing the resilience and performance of Croatia’s premium-class hotels.