Croatia's biggest hotel company buys Hotel Petersbuehel in Austria

The Porec-headquartered Valamar Riviera has bought the Hotel Petersbuehel in Austria's Obertauern winter resort, and thus for the first time Croatia's biggest tourism and hotel company has stepped out onto the market outside Croatia, the company's management reported on Monday. Valamar Riviera expects to conclude the business of taking over the four-star hotel within the next two months.

"Valamar expects to complete required activities to take over leading of the Petersbuehel hotel 4* in Obertauern within the next two months," according to a press release issued by Valamar on the Zagreb Stock Exchange (ZSE)  . 

"The acquisition of Hotel Petersbuehel in Austria is a step out for Valamar toward internationalising its business. Given that Austria is a significant tourism country for recreational tourism with potential synergy for Croatian tourism companies, this choice seems logical for the start of internationalisation," Valamar said.

Hotel Petersbuehel has 80 accommodation units and is located in Obertauren's winter resort destination.

Valamar Riviera is the second Croatian hotel company to acquire a hotel outside Croatia. Two years ago the Pula-based Arena Hospitality Group did so as well by changing its ownership, name and brand. (Hina/FaH)

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