News Article Arena Hospitality Group Belgrade hotel investment SEE Serbia
by Property Forum | Investment

Croatia-based hotel group Arena Hospitality Group d.d.¸ through its local subsidiary has successfully completed the acquisition of Hotel 88 Rooms in Belgrade. The transaction value amounted to €5.95 million (HRK 45 million).

The hotel is minutes away from the historic old town. It offers 88 rooms and suites, a restaurant, bar and conference room and fitness facilities.

The acquisition of 88 Rooms Hotel is yet another milestone of Arena Hospitality Group’s pursuit of its strategy to further expand its business through the CEE region. This acquisition further allows the Group to increase its operations across cities in Europe aiming at maintaining and increasing its profile in the upscale, upper-upscale and lifestyle market segments in the CEE region, whilst striving to create and realise shareholder value.

The pipeline of the Group for the short to medium term includes the repositioning of Hotel Brioni Pula into a luxury upper upscale hotel with 227 rooms building upon the hotel’s status and reputation, with the ambition for it to become the best in class hotel in Pula and the surrounding area, the repositioning of campsite Stoja in Pula into an upper upscale campsite, (the conversion of an iconic building in a prime location in the heart of the city of Zagreb into an upper upscale 113 bedroom hotel which will include a destination restaurant and bar, wellness and spa facilities, fitness centre, event space and parking, and the refurbishment of hotel Riviera in the heart of the city of Pula.