PPHE Hotel Group is to develop a new city centre hotel in Zagreb, Croatia, through its subsidiary Arena Hospitality Group.
Arena has entered into a 45-year lease for the development and operation of a contemporary branded hotel in Zagreb, Croatia.
The 115-room hotel will include a restaurant and bar, wellness and spa facilities, fitness centre, event space and parking and is expected to open within 24 months.
The group said that the development was further evidence that Arena was executing on its strategy to expand its business in Central Eastern Europe. The company said: “The new city centre hotel will enhance the geographic spread of Arena’s portfolio, which is currently centred on the Istrian coast, and decrease the exposure to seasonality. This new addition to the expanding portfolio will also further support Arena’s profile and reputation in the upscale, upper upscale and lifestyle market segments.”
Boris Ivesha, president & CEO, PPHE said: “This proposed new hotel in Zagreb adds further growth to our secured £300m pipeline of hotel projects in the UK, Europe and the US. Through our subsidiary Arena, we are continuing to expand our presence in Central Eastern Europe and we have the local expertise, infrastructure and reputation to realise the substantial opportunities in this exciting region.”