Croatian hotel group Arena Hospitality has acquired the 88 Rooms, a four-star hotel in Belgrade, Serbia.
The latest acquisition continues the group’s foreign expansion: it already manages seven international hotels in Germany and Hungary.
“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 Central and Eastern Europe,” commented the CEO of Arena Hospitality Group, Reuel Slonim.
88 Rooms hotel is located close to the main business area of Belgrade, with easy access to the Serbian capital’s restaurants and clubs.
“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 the business and we’re growing into a dynamic, international hotel group with year-round business,” Mr Slonim added.