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PPHE Hotel Group Ltd - London-based hotel and resort operator - New ’art’otel’ hotel will open in Zagreb, Croatia in early October. Croatian subsidiary Arena Hospitality Group invested £16 million to convert an ‘iconic building’ in Zagreb’s centre, PPHE says. Opening follows that of first with art’otel brand in London earlier this year. PPHE says two more art’otels will open in 2024, a second London hotel in the first quarter and one in Rome at some point during the first half. Chief Executive Officer Boris Ivesha says art’otel Zagreb is ‘a great addition to our growing portfolio of premium lifestyle art’otels’. The four new openings are targeted to deliver at least £25 million in earnings before interest, tax, depreciation and amortisation once stabilised.
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