The Arena Hospitality in Croata buys a hotel in Austria for 112 million kuna (15 million euros)


ZAGREB (Croatia), September 28 (SeeNews) – Croatian hotel operator Arena Hospitality [ZSE:ARNT] announced on Tuesday that it had signed an agreement to purchase a 4-star mountain hotel in Austrian Carinthia for 112 million kuna ($ 17.4 million / € 14.9 million) from K1 Hotelerrichtungs, which makes part of the Austrian real estate and investment company MID Holding Group.

“This latest acquisition is a strategic adjustment that complements gGroup’s summer leisure activities and builds on the seasonal synergies that can be achieved through the hotel’s proximity to Croatia, from which the group operates. its leisure activities, “the company said in a Zagreb Stock Exchange filing.

The Franz Ferdinand Mountain Resort is located in Nassfeld. It has 144 family rooms, a restaurant, bar, wellness facilities and conference rooms.

In addition to the hotel, the transaction includes the acquisition of two floors of an adjacent building including a terrace which is being considered for the future development of a swimming pool, and separate employee accommodation with 21 rooms in Vellach, Carinthia.

Arena signed the agreement through its subsidiary Sugarhill Investments.

In recent years, Arena Hospitality has expanded to Germany, Hungary and Serbia and, as a result of this transaction, Austria, strengthening its position in Central and Eastern Europe, the statement said.

Arena has said it will try to close the deal before the start of the 2021/2022 winter season.

Arena said in the same statement that the announcement coincides with the start of development work on its luxury hotel in downtown Zagreb and the development and repositioning of its luxury hotel Grand Brioni in Pula, Croatia , are progressing well and are approaching their final phase. .

Arena shares traded at 318 kuna on the Zagreb Stock Exchange on Tuesday afternoon at the Zagreb Stock Exchange, up 0.63% from the previous closing price as 82 shares changed hands.

(1 euro = 7.502 kunas)


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