This is the first investment in any hotel in Zagreb since 2012.
The Le Premier is located in downtown Zagreb in a former palace built in 1923 by architect Lav Kalda and the building has been proclaimed a cultural monument.
The building was bought from the PBZ Bank and it has been revamped into a five-star hotel. The hotel, which employs a score of workers, comprises 62 room, a presidential suite, restaurant, spa centre and other facilities.
Students in hotel and tourism management at the Libertas University will have an opportunity to conduct professional training in the hotel.
"Not one higher school institution or university in Croatia offers their students internship with a complete work experience in the way a hotel functions and is managed, and in one in which a university has invested and we believe that this will give us a competitive edge," Libertas rector, Dusko Pavlovic said.
Director of the Zagreb Tourism Board, Martina Bienenfeld underscored that it was good that cultural monuments and old buildings were being put into use for tourism purposes.
Zagreb Mayor Milan Bandic said that the new hotel would be important for Zagreb's tourism offer.