5 new hotel investments in the Greek siland of Crete

Five new hotel investments in Crete have received the green light for subsidies.

Tornos News systematically monitors and publishes investments in the hotel sector that are supported either by decisions of the competent Directorate of the Ministry of Development or by the Regions of the country.

In detail, the business plans of the groups according to decisions taken by the Region of Crete to support them are as follows:

-Support for the investment plan of the company RETHYMNO AXTE, which concerns the establishment of a hotel following the modernization of a comprehensive form of the non-main tourist accommodation Pearl Beach Apartments with its upgrade to a 3-star category and its renaming to Pearl Sea Breez with a capacity of 17 apartments (21 rooms) of 41 beds on Australon Polemiston and Aris Velouchioti streets in Rethymno, with a total eligible cost equal to 911,725.37 euros and a totally supported cost equal to 908,839.31 euros.

-Support for the investment plan of the company G. AND B. CHONDRAKIS SOCIETE ANONYME COMMERCIAL TOURIST AND HOTEL ENTERPRISES with the distinctive title VASIA HOTELS which concerns the comprehensive modernization of the 3-star hotel Vasia Village 3 and its upgrade to 4 stars in the location of Gialia in Sisi, Agios Nikolaos, Lassithi, with a total eligible and subsidized cost of 965,609.89 euros.

-Support for the investment plan of the company ANDREAS GERANIOTIS HOTEL AND TOURIST ENTERPRISES SA with the distinctive title GERANIOTIS BEACH which concerns the modernization of the 3-star hotel GERANIOTIS BEACH located in Platanias, Chania, with a total eligible and subsidized cost of 650,000 euros.

-Support for the investment plan of the company AGIOI APOSTOLI - HOTEL AND TOURIST ENTERPRISES - SOCIETE ANONYME concerning the modernization of the OKEANIS hotel, with a capacity of 34 furnished apartments of 99 beds and its upgrade to a 3-star category, located in the location of Agii Apostoli Kato Daratso of Nea Kydonia, Chania, with a total eligible and supported cost equal to 700,000 euros.

Also, the competent Directorate of the Ministry of Development took the following decision:

-Approval of the investment plan of the company HELLAS HOLIDAY HOTELS S.A. which concerns the modernization of a complete 5-star hotel, with a capacity of 331 rooms, 717 beds, in Agios Nikolaos, with a total eligible and subsidized cost of 12,500,000 euros.

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