Slovenian hotel and dormitory in Vienna gets EUR 1.9m injection
Ljubljana, 12 November - Slovenian Sovereign Holding (SSH) carried out a EUR 1.9 million capital injection in Studentenheim Korotan, which manages a Slovenian hotel and student dormitory in Vienna, to enable financial restructuring of the company and ensure better living conditions for students, SSH announced on Tuesday.
The state asset custodian said that the capital injection was carried out in accordance with its 2024 annual plan and the new strategy of state asset management, under which Studentenheim Korotan is designated as a strategic investment.
"By classifying it as a strategic investment, Slovenia clearly demonstrates its intention for Korotan to continue its mission of promoting Slovenian art, culture, education and science, and serving Slovenian students in Vienna," it added.
SSH said that the capital injection would enable financial restructuring of the company, ensure adequate fire safety, improve the living conditions for students and help renovate hotel rooms with the aim of increasing revenue.
These investments are the key to the long-term stability and development of the institution, it added.
It was also announced that Marian-Raimund Wakounig, an expert with experience in finance, tax and corporate governance, will take over as the head of the company on 1 October.
The Government Office for Slovenians Abroad will meanwhile provide funds for a public programme in the centre to improve its operation and promote Slovenian culture and knowledge in cooperation and with financial support from five ministries.
The Korotan hotel and student dormitory has been an important hub for Slovenian culture, science and education in the Austrian capital for decades, SSH said.
The capital injection and regular financing will enable it to keep and expand its mission and provide Slovenian students with better study and accommodation conditions and help preserve and strengthen the Slovenian community in Vienna.