As Barbara Ban/Novac writes on the 19th of March, 2019, Pula’s biggest hotel group, the Arena Hospitality Group announced the continuation of its large investment cycle yesterday, the amount of which will be about half a billion kuna. These are investments in the hotel Brioni (Brijuni) and the apartment resort of Verudela Beach in Pula, the Kažela camp in Medulin, and the doing up of the Art’otel Berlin Kudamm over in Berlin, Germany.
Namely, this Pula hotel company is the only one which owns hotels in Germany and Hungary at the moment. The Arena Hospitality Group recalled that by mid-2017, via a public offer on the Zagreb Stock Exchange, they raised about 750 million kuna to continue their investment cycle.
”We’re continuing with our investment cycle, which will be around half a billion kuna from 2018 to 2022. Some of the investments have already been done, some have started, and some are just beginning. Last year we renewed camp Pomer, which became the first glamping site in the country, and we believe it’s one of the best in the world. That investment stood at 70 million kuna,” said the Arena Hospitality Group’s Reli Slonim.
With that move, the path to rejuvenating their camps is definitely wide open, which is a sector of theirs which they haven’t invested significantly in before last year, as they devoted themselves to raising the quality of their hotels and apartment resorts, as well as their numerous acquisitions in Europe. Part of their facilities are also branded as Park Plaza.
”This year we started with the complete doing up of the Kažela camp in Medulin, and this investment is worth 128 million kuna, which is our biggest investment in the camps. After the completion of the investment, the camp will offer its guests 1,300 spacious places and 164 new luxury mobile homes. In addition, the camp will get a new entrance and reception, new beach bars, and entertainment and sports facilities,” Arena Hospitality Group’s Reli Slonim said.
It is interesting to note that mobile homes in this camp will be made up of ecological and recycled materials, and each of them will be about 40 square metres in size. This will be one of the biggest investments in camps this year in the country, and it should be finished by this [tourist] season.
A member of the management of the Arena Hospitality Group, Manuela Kraljević, also added that along with all of their current investments, they are preparing for the renovation of the Verudela Beach apartment complex too, which will begin in autumn this year. As of now, they have refurbished a ten-unit building, which is an example of how the other apartments will look when finished.
In the tourist resort of Verudela Beach, the plans are to invest about 60 million kuna during the second half of 2019. Ten accommodation units will be upgraded by this season, while the remaining 146 units and 20 villas will be renewed in time for the 2020 summer season. After the completion of the investment, the resort will be under the brand of Arena Hotels & Apartments, Kraljević said.
They also announced the reconstruction of Hotel Brioni, which for the time being, remains the only hotel in Punta Verudela that hasn’t been given a ”fresh face”. It is a cult hotel which was built back in the 1970s, primarily for American guests. So far, only two showrooms have been done up, which will be somewhat larger than the existing ones, but this won’t change the number of rooms.
”We have decided that we’re not going to change the size of this hotel, but we will rebuild it as it is, and the room sizes will be about the same. We will invest 190 million kuna into it, and we’ll start doing it up in 2020 after the [tourist] season. The hotel will be finished in one year and [everything] will be completed by 2022,” Slonim said. In addition to investments in Croatia, this year the Pula hotel group is also renovating its hotel in Berlin, investing the equivalent of 53 million kuna into it. The hotel is located in Berlin’s famous Charlottenburg district and is dedicated to the works of the famous pop art artist Andy Warhol. The investment will include a total accommodation capacity of of 152 rooms, as well as all of the other hotel facilities one might expect.
As Luka Cvitan said, the German part of the portfolio is extremely important to the Arena Hospitality Group because it gives them stability and doesn’t depend solely on tourism flows in Croatia. Last year, hotels in Germany saw the largest growth, while in Croatia, things unfortunately stagnated somewhat. Business last year amounted to 758 million kuna, and was higher than last year’s gain by 30 percent. That is why the Arena Hospitality Group is also thinking about further acquisitions in Belgrade in Serbia, as well as in other countries in the region.
”Also, since we have a portfolio abroad, we can offer our employees full-time employment,” said Cvitan.
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Click here for the original article by Barbara Ban for Novac/Jutarnji
