Business
October opening of art’otel Zagreb
October opening of art’otel Zagreb.
About this update from Pphe Hotel Group Limited
[{"type":"text","content":"\n\n\n12 September 2023\n \nPPHE Hotel Group Limited\n(\"PPHE\" or the \"Group\")\n \nOctober opening of art'otel Zagreb, Croatia's first art'otel\n \nPPHE Hotel Group, the international hospitality real estate group which develops, owns and operates hotels and resorts, is pleased to announce the opening of the premium lifestyle art'otel Zagreb in early October 2023. The opening follows the art'otel brand's successful London debut at Battersea Power Station earlier this year, with another two art'otels set to open in London Hoxton (Q1 2024) and Rome (H1 2024).\n \nThe opening of art'otel Zagreb follows a £16 million investment by the Group's Croatian subsidiary (Arena Hospitality Group) to convert an iconic building, known to be one of the best examples of Zagreb's Art Déco architecture, in the heart of the city centre. Located just off Zagreb's main square (Ban Jelačić Square), the hotel features 110 rooms, a rooftop bar with a panoramic view of the city (opening in 2024), pan-Asian destination restaurant and bar YEZI, four meeting spaces, a spa and an indoor pool.\n \nEach art'otel is dedicated to a Signature Artist and at art'otel Zagreb works from the late Boris Bućan, one of Croatia's best-known artists, were selected. This is the poignant last collection of his life's creativity, in which his artwork is layered within the very fabric of the hotel, to deliver a canvas for residents to enjoy during their stay.\n \nBoris Ivesha, President & Chief Executive Officer, PPHE Hotel Group said:\n \n\"We are very pleased to launch our new art'otel Zagreb, our first art'otel in Croatia, which will soon be joined by art'otel London Hoxton and art'otel Rome in 2024. This is the first of four new hotel openings in the next nine months and is a great addition to our growing portfolio of premium lifestyle art'otels. Collectively, our new openings are targeted to deliver at least £25 million of EBITDA upon stabilisation.\n \nWe are extremely proud to add this brand-new hotel in the Croatian capital to our growing portfolio of hotels and look forward to welcoming our first guests.\"\n \n \n- Ends -\n \nEnquiries:\n \n\n\n\nPPHE Hotel Group Limited\n\n\nTel: +31 (0)20 717 8600\n\n\n\n\nDaniel Kos, Chief Financial Officer & Executive Director\n\n\n\n\n\n\n\nRobert Henke,...