The largest Croatian tourist company Valamar Riviera has bought the Hotel Petersbuehel in Austria’s Obertauern winter resort, stepping for the first time out onto a market outside Croatia, Valamar’s management reported on Monday.

“Valamar expects to complete activities required to take over the Petersbuehel Hotel management within the next two months,” the management said in a press release.

Petersbuehel Hotel has 80 accommodation units, and is located in the Obertauern winter resort in the Austrian state of Salzburg.

“Given that Austria is an important tourist destination with a lot of potential for Croatian companies, this is a logical step towards internationalisation,” Valamar management said.

The company did not disclose the value of the transaction.

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