Arena Hospitality has completed the transaction of FRANZ ferdinand Mountain Resort Nassfeld in Austria.

On Friday, Arena Hospitality has announced that through its subsidiaries (Sugarhill Investments B.V. and ARENA FRANZ Ferdinand GmbH) they have finished the acquisition of FRANZ ferdinand Mountain Resort Nassfeld in Austria.

This marks the Company’s first winter resort, which complements its existing summer leisure business in Croatia. The Company plans to operate the Hotel in the winter season of 2021/2022.

FRANZ ferdinand Mountain Resort Nassfeld is located next to the valley station of the Nassfeld Ski Resort in Carinthia. The hotel offers 144 rooms, a restaurant, bar, conference rooms, private car park, wellness and sauna, and children facilities. The Company also announced their plan to invest further EUR 2m into the Hotel.

The completion of this transaction in Austria further strengthens the Company’s position in the CEE region. As a reminder, the transaction was concluded at a consideration of HRK 112m, implying HRK 778k per room.