Croatia's Arena Hospitality Group Takes Over Belgrade Hotel
As Poslovni Dnevnik writes on the 26th of April, 2019, through its subsidiary Sugarhill Investments B.V., the Croatian hotel group Arena Hospitality Group d.d. from Pula has concluded a framework agreement with MK Aviation Services d.o.o. to take over the "88 Rooms" hotel, a four star hotel in Belgrade, Serbia.
The completion of this transaction is of course still subject to certain steps and to the fulfillment of certain conditions, as they have stated from the aforementioned Croatian company.
"88 Rooms" is a modern, four-star hotel situated in a prime location on Takovska Street in Belgrade, close to the business district and close to the cultural attractions of the old part of Belgrade, including Knez Mihailova Street and Kalemegdan Park. The hotel boasts 88 modern and comfortable rooms and suites decorated according to Feng Shui rules, and other facilities include a bar, a restaurant, a fitness room, a massage room and four meeting rooms with a capacity of up to 200 participants.
With this acquisition, Pula's Arena Hospitality Group continues to expand overseas following its already established business model with the management of seven international hotels in Germany and Hungary, more specifically in Berlin, Nuremberg, Cologne and Budapest.
On this occasion, the CEO of Arena Hospitality Group d.d., Reuel Slonim, said: "It's a great pleasure to be able to present this acquisition, which, with the momentum of our current investments in our existing accommodation facilities, continues our [already] announced further expansion of our business to new areas in the major cities of the region of Central and Eastern Europe. By entering this new market and strengthening our hotel portfolio throughout the year, we're able to add more worth to the group's value and at the same time create additional long-term value for our customers and for our shareholders. With such moves, we're rapidly changing the existing high seasonality of business and we're growing into a dynamic, international hotel group with year-round business.''
The Arena Hospitality Group expects that the conditions required for completing the transaction will be met by the end of this year, after which, Belgrade's 88 Rooms Hotel will become part of the Arena Hospitality Group famiily and continue its business under the brand name "Arena Hotels & Apartments" under the new name of "Arena Hotel 88" .
The value of the transaction stands at 47 million kuna, which, together with the entire investment cycle, started after a public offer in mid-2017 exceeding a hefty price tag of 500 million kuna.
Slonim continued: "More than half a billion kuna's worth of investment after the public offer is underway, starting with an investment of 70 million kuna in the first Croatian luxury glamorous resort Arena One 99 Glamping in Pomer, the current investment of 128 million kuna in the Arena Kažela camp in Medulin, 53 million kuna in the reconstruction of the Art'otel Berlin Kudamm hotel in Berlin, 60 million kuna in the renovation of the Verudela Beach resort in Pula, and 190 million kuna in the complete reconstruction of Brioni in Pula, which will carry the Park Plaza brand and be positioned among the best hotels that hotel chain.''
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10 Most Exciting Hotel Projects in Croatia Right Now
This year, according to data from the Ministry of Tourism, domestic tourism will see an investment of more than a billion euro. From that amount, hoteliers will invest more than 600 million euro in renovating existing hotels and building new hotels in Croatia.
At the end of last year, there were 1,700 hotels registered in Croatia with a total of 172,000 beds.
Of the total number of accommodation capacities in the country, which is about one million beds, hotels make up only about 12 percent. As a result, one of the intentions of the 2020 strategic development documents is the significant increase in hotels of several categories.
This year, the doors will open to many four and five-star hotels.
These are ten of the most attractive hotel projects in Croatia right now, according to T.portal on January 25, 2019.
The Adris Group’s tourism company Maistra has invested more than 600 million kuna in Rovinj’s Hotel Park. Although it was supposed to be open at the end of 2018, the hotel will receive its first guest in April this year. It is considered one of the most luxurious hotels in Croatia. It will have 209 rooms overlooking the old town of Rovinj, six restaurants, a wellness and spa center of 3800 square meters, a congress hall and a shopping promenade.
The architectural group 3LHD created the project, with the interior design by Italian studio Lissoni.
All rooms will have spacious terraces with green gardens, and 53 of them will also have whirlpools.
View photos of the Grand Park Hotel.
Hotel Palace Elisabeth, Hvar
After a thorough reconstruction, which included a 100 million kuna investment, the hotel Palace Hvar owned by Sunčani Hvar will open by the 2019 summer. The hotel will boast 5-stars, 45 luxury rooms and suites, an indoor pool, a luxury spa, and two outdoor terraces.
Otherwise, the hotel’s history dates back to the 13th century, and in 1899, the Spa Hotel Empress Elisabeth was opened, named after the Austrian Empress Elisabeth “Sisi”, a generous sponsor who financed the hotel’s construction. Therefore, the newly opened Palace hotel will bear its name - Palace Elisabeth, Hvar Heritage Hotel.
You can read more about it here.
Hilton Garden Inn, Zagreb
By the end of this year, Zagreb will have its third Hilton hotel, the Hilton Garden Inn. It will be located near the Green Gold Center and the existing Doubletree by Hilton Hotel on Vukovarska Street.
The company, Zagreb City Hotels, has announced that around 75 million kuna will be invested in 150 new hotel rooms.
The Garden Inn will be oriented to a wide audience, as well as business guests, and on the highest eighth floor, there will be a congress and banquet center with five halls for 400 guests.
In the spring, the doors should open to the new Split hotel Amfora, located along the coast of Žnjan. Behind the impressive, 26 million euro investment lies entrepreneur Zvonko Kotarac.
The new hotel will have four stars and 207 rooms with a total of 500 beds and will, therefore, be the largest hotel in Split.
The hotel was named after the family’s collection of amphorae between 1800 and 2500 years old, completely preserved and protected as a national cultural heritage, which will be exhibited within the hotel.
The Amphora will offer a 500-square-meter congress hall, a massive wellness area, saunas with a sea view and three swimming pools, two of which will also have a sea view, and the possibility of closing one in the winter with a glass wall. It is planned to employ 80 permanent and 40 seasonal workers.
You can read more about the project here.
Hotel Paris, Opatija
Slavonian entrepreneur Zdravko Josić announced the opening of his renovated hotel Paris in Opatija, which should open in June this year. Guests will be offered 190 refurbished rooms, a wedding hall, a wellness center, and a transformed tower.
In the second phase of reconstruction, Josić plans to build another 30 rooms and underground garage for guests, which should open in 2020. The total investment will amount to 75 million kuna.
Two years ago, construction works began on the Hotel Roxanich in Motovun, worth 50 million kuna.
At 3000 square meters, the hotel has 28 classic rooms and four suites and additional facilities such as a retail wine shop, a small club, wellness center, a garage for 36 vehicles and an extensive wine cellar, in which Mladen Rožanić invested an additional 32 million kuna.
Hotel Ambasador, Split
The opening of Hotel Ambasador on the Split Riva, which saw an investment of 17 million euro, should open this year.
The new hotel will have 101 rooms and suites, a restaurant with a 240-person capacity, a spa, a gym, a nightclub and an underground garage with 59 parking spaces. The opening is announced for the start of the tourist season.
The Ambasador was initially bought by the late football coach Tomislav Ivić 20 years ago. Ivić's successors then sold the entire project to Klaus Alex Birkenstock, unofficially titled as 'the king of shoes', who finally launched the investment into the hotel.
Hotel Bellevue, Dubrovnik
At the end of October last year, the restoration of the hotel Bellevue began, which cost around 36 million kuna, or more than 400,000 kuna per room. The Bellevue is part of the Adriatic Luxury Hotels Group (JLH) owned by the Lukšić family.
The opening is planned in the spring after the thorough renovation is completed according to the ideas of the Portuguese design studio Tereza Prego.
You can see photos of the project here.
Valamar Collections Marea Suites, Poreč
The largest Istrian tourist house Valamar Riviera will open a luxury 5-star family hotel, Valamar Collections Marea Suites, built on the site of a former apartment complex Pinia Sunny Residence.
Apart from the hotel is an attractive sandy beach, and guests will enjoy a 200-square-meter swimming pool, restaurants and numerous other facilities suitable for families with children.
IT Hotel, Zagreb
Imobilia tehno, the subsidiary of custom facade company KFK, is behind the IT Hotel, which saw construction begin in July 2017 in the area of Zaprudski otok in Zagreb. The new hotel will have 96 rooms at about 8,000 square meters. The planned categorization is four stars.
Of the additional content, the hotel will have a congress hall, restaurant, Irish pub, gym and chargers for electric vehicles.
You can find out more about the project here.
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Top 25 Hotels in Croatia as Chosen by TripAdvisor Travelers
TripAdvisor - the world's leading travel portal and evaluation of service quality in the tourism industry - has released its annual list of the best hotels in Croatia as part of the “Traveler's Choice Awards 2017”.
