Arena Hospitality Group has announced new long term financing for the acquisition of Franz ferdinand Mountain Resort in Nassfeld Austria, in the amount of EUR 10.5m

According to the statement that was released yesterday by the Company, the Group has entered into a long-term financing agreement with Erste Bank, through its local subsidiary Arena FRANZ ferdinand GmbH. The loan is due in 2033 and carries a fixed interest rate.

As a reminder, the acquisition was already announced back in September, for a 4-star hotel in Nassfeld, Austria at a consideration of HRK 112m, implying HRK 778k per room.

The above-mentioned mountain resort is located next to the valley station of the Nassfeld Ski Resort in Carinthia, which provides access to the area’s 110km of slopes. The hotel offers 144 family rooms, a restaurant, bar, conference rooms, private car park, wellness and sauna and children facilities.