This is the fourth joint venture of KD Adriatic Value Fund and Peakside Capital in Slovenia, the press release, noting that the first joint acquisition took place in April 2018.

"With the acquisition of Austria Trend Hotel, KD Adriatic Value Fund continues to solidify its core activity and is expanding its investment portfolio of real estate to hotels," KD Skladi chairman Luka Podlogar was quoted as saying.

Meanwhile, Tomasz Niezgodzki of Peakside Capital said that the hotel had great potential.

The four-star hotel is located along Dunajska Cesta, one of Ljubljana's main thoroughfares. It has 241 rooms, a restaurant, a wellness centre and several conference rooms.