May 29 (SeeNews) - Croatian hotel operator Arena Hospitality Group [ZSE:ARNT] is reopening its campsites in the Adriatic country following a break caused by the coronavirus epidemic, as some of its hotels and resorts will resume operations in the next two weeks, the group said.
Over the last few days, no new cases of the coronavirus infection have been reported in Croatia and borders are gradually reopening, the group said in a statement with the Zagreb bourse on Thursday. The situation in its two other markets of operation, Germany and Hungary, is also showing positive signs, making it possible for the hotels there to be fully operational in the next two weeks, it added.
Arena Hospitality Group also said it has completed its planned capital investments in the self-catering apartment resort Verudela Beach Pula and the Arena Kazela Campsite, both located near the city of Pula on the Istrian peninsula.
It added that its financial and liquidity position remains robust, with 540 million kuna ($79 million/71 million euro) in excess cash as of May 27.
Arena Hospitality is controlled by Guernsey-registered real estate developer PPHE Hotel Group.
Its shares closed flat at 266 kuna on the Zagreb bourse on Thursday. They did not trade befoore noon on Friday.
(1 euro = 7.58673 kuna)