Croatia s Arena Hospitality secures 4.2 mln euro financing to buy Belgrade s Hotel 88 Rooms Author: 88 Rooms. License: All rights reserved.
ZAGREB (Croatia), December 18 (SeeNews) - Croatian hotel operator Arena Hospitality Group [ZSE:ARNT] said it signed a 32 million kuna ($5.2 million/4.2 million euro) loan with Serbian lender AIK Banka to finance the acquisition of 88 Rooms Hotel located in the Serbian capital Belgrade.
The loan has a fixed interest rate of 4.3% and is denominated in Serbian dinars. It will mature in 2025, Arena Hospitality said in a statement on Thursday.
The completion of the 45 million kuna acquisition of 88 Rooms Hotel is expected in the first quarter of 2021.