SEE REGION Arena Hospitality poised to buy Belgrade hotel
Hotelsschedule 31 December 2020
The HRK 45 mln (EUR 6 mln) acquisition of the hotel is expected to go through in Q2 2021
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Arena Hospitality Group has been loaned HRK 32 mln (EUR 4.2m) by Serbian bank AIK Banka for the Croatian hotel group to acquire the 88 Rooms hotel in Belgrade.
Hotel 88 Rooms is a contemporary hotel close to the city’s historic old town. It offers 88 rooms and suites, a restaurant, bar and conference room and fitness facilities. The completion of the acquisition is expected in Q1 2021. The transaction value comes to HRK 45 mln.
The acquisition marks the latest step by Arena Hospitality in its strategy to expand its business across cities in the CEE region, increasing “its profile in the upscale, upper upscale and lifestyle market segments, whilst
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