Croatia's Arena July-Aug local mkt revenue up 20% on pre-pandemic 2019

In Germany, the unaudited aggregate revenue for July and August represents more than 98% of the aggregate revenue for the same period in 2019, which was the result of a strong improvement in average room rate, Arena said in a pre-quarter close business update submitted to the Zagreb bourse.

Arena Hospitality owns hotels and campsites in Croatia, Austria, Germany, Hungary and Serbia.

The revenue in the CEE region (Hungary, Austria and Serbia) is ahead of the same period in 2019 by more than 15%, bolstered by acquisitions of the hotels Arena Franz Ferdinand Nassfeld Austria and Arena 88 Rooms Belgrade Serbia, it added.

Arena Hospitality's shares traded 2.40% higher at 256 kuna ($34/34.1 euro) intraday on Thursday on the Zagreb Stock Exchange.

(1 euro=7.521 Croatian kuna)