November 24 (SeeNews) - Croatian hotel operator Arena Hospitality [ZSE:ARNT] said on Wednesday that its Austrian unit has entered a 10.5 million еuro ($11.8 million) loan deal with Austria's Erste Group Bank to finance the acquisition of Franz Ferdinand Mountain Resort Nassfeld hotel.
The loan is due 2033 and carries a fixed interest rate, Arena said in a filing with the Zagreb bourse.
In September, Arena signed an agreement to buy the four-star mountain hotel in Austria's Carinthia for 112 million kuna ($16.7 million/14.9 million euro) from K1 Hotelerrichtungs, part of Austrian real estate and investment company MID Holding group.
Arena's shares traded at 300 kuna on the Zagreb bourse on Wednesday morning, unchanged compared to the previous closing price.
(1 euro=7.522 kuna)