Privredna banka Zagreb (PBZ) has approved a €40 million loan to support the comprehensive renovation of Hotel Esplanade, Zagreb’s leading luxury hotel and one of Croatia’s most prestigious hospitality landmarks.
Earlier this year, the hotel was awarded a Michelin Key — the hotel equivalent of a Michelin Star — further cementing its status in the region.
Despite its reputation, the property has not undergone a full refurbishment in many years. Guestrooms, public areas, kitchens, the well-known street-level restaurant Le Bistro, and the iconic Oleander Terrace are all set to benefit from significant modernisation.
The loan agreement was signed by Dinko Lucić, President of the Management Board of PBZ, and Herbert Haselbacher, Austrian entrepreneur and President of the Management Board of Hotel Esplanade. Renovation works are scheduled to span two years.
Hotel Esplanade will remain open throughout the project, with work carried out in carefully planned phases to ensure continuity of operations. The decision to move forward with the renovation represents one of the most important developments for Croatia’s hotel sector this year, as well as a major boost to Zagreb’s social scene and the tourism potential of the country’s capital.
Upon completion, Hotel Esplanade is expected to reaffirm its position among the most distinguished grand hotels in Central Europe.
