As Marija Crnjak/Poslovni Dnevnik writes on the 14th of October, 2019, after investing more than 113 million euros across several key markets, the majority owner of the popular Pula Arena’s plan is to invest another 340 million euros in the new Art’otel London Hoxton and Art’otel New York projects.
The Dutch PPHE Hotel Group, the majority owner of the well known Croatian company Arena Hospitality Group, has opened the brand new Park Plaza Vondelpark hotel in Amsterdam, the Netherlands, in which it has invested 10 million euros in total. The new hotel in the Dutch capital boasts 102 rooms and will soon have a new restaurant and bar, as well as a gym, a private garden and several meeting rooms.
With this large investment, PPHE has completed a multi-year investment cycle of more than 113 million euros on key markets, including that of Croatia.
“This hotel, located in the highly desirable Amsterdam district of Oud-Zuida, perfectly complements our strong offer in the city, with our Park Plaza Victoria Amsterdam hotels that we remodeled in 2018, and Art’otel Amsterdam,” said PPHE Hotel Group’s CEO Boris Ivesha, Chairman of the Arena Supervisory Board.
As previously mentioned, the CEO also announced that they expect to spend another 340 million euros on new projects such as Art’otel London Hoxton and Art’otel New York. As is known, the company announced the first Art’otel outside Europe last spring, that being the facility in the Big Apple.
Arena Hospitality Group, in addition to being the majority owner of the Pula Arena, managing and developing its own Arena Hotels & Apartments and Arena Campsites brand, through PPHE Hotel Group Limited, as a majority owner, has the exclusive right to operate and develop the international Park Plaza brand in eighteen Central and Eastern European countries and to manage the exclusive Art’otel brand.
To briefly reall, the same company purchased Hotel 88 Rooms in the Serbian capital of Belgrade back during this spring for a price of 47 million kuna.
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