This paper presents the idea of creating a new tourist product - hotel for pet owners and their pets. The conceptual development process, from idea to realization with all its components, is presented. This paper presents the effects of tourism development on the community as well as the fact that hotel industry is not only a labor intensive industry but also an industry based on a high level of venture capital. Although there are no accurate statistics with the exact number of inbound and outbound tourists traveling with pets in Europe, conducted research (surveys and interviews) show that there is a need for such differentiated product. The paper analyzes the necessity for the development of specific forms of hotel industry in the Republic of Croatia and the justification for investing in it. With its marketing, investment and financial studies and analyzes, this paper will serve as a quality basis for a more detailed development of further planning.