Business
New hotel development in Zagreb
New hotel development in Zagreb.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n \nRNS Number : 3569B PPHE Hotel Group Limited 30 January 2020 \n\n \n30 January 2020\nPPHE Hotel Group Limited\nNew hotel development in Zagreb \nPPHE Hotel Group (\"PPHE\" or the \"Group\"), the international hospitality real estate group which develops, owns and operates hotels and resorts, today announces its plans to develop a new city centre hotel in Zagreb, Croatia, through its subsidiary Arena Hospitality Group d.d. (\"Arena\").\nArena has entered into a 45-year lease for the development and operation of a contemporary branded hotel in Zagreb, Croatia. The development, which is subject to obtaining the necessary permits, involves the conversion of an iconic building in a prime location in the heart of the city. Once opened, this 115 room hotel will include a destination restaurant and bar, wellness and spa facilities, fitness centre, event space and parking. The hotel is expected to open within 24 months.\nThis development is further evidence that Arena is executing on its strategy to expand its business in Central Eastern Europe. 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. \nBoris Ivesha, President & Chief Executive Officer, PPHE said:\n\"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.\" \n \n \nEnquiries\n\n\n\nPPHE Hotel Group Limited \n\n\n\n\n\n\n\nDaniel Kos, Chief Financial Officer & Executive Director\n\n\n\n\n\n\n\nInbar Zilberman, Chief Corporate & Legal Officer\n\n\nTel: +44 (0)20 7034 1380\n\n\n\n\nLisa Woodman, Director of Corporate Communications\n\n\nTel: +44 (0)20 7034 4800\n\n\n\n\nHudson Sandler \n\n\n\n\n\n\n\nWendy Baker/ Lucy Wollam\n\n\nTel: +44 (0)20 7796 4133\n\n\n\n \n\n\n \nNotes to editors\nPPHE Hotel Group is an international hos...