State Subsidies Approved For Creation Of New Hotels In Greece

Santorini

Mykonos.

The Greek Development Ministry has given the go-ahead for 100 million euros of state subsidies to be allocated for the development of hotels on popular Greek islands.

According to Greek newspaper Kathimerini, Deputy Development Minister Notis Mitarakis recently approved state subsidies, through a tourism sector investment law, for the development of 16 hotels on islands including Mykonos, Santorini and Crete.

• Mykonos: 4.37 million euros in subsidies has been granted to Mykonos SA for an investment plan for the creation of four 4-star hotels with a capacity of 127 beds in Agios Stefanos. The total investment adds up to 12.5 million euros.
• Mykonos: 5.4 million euros in subsidies has been granted to Aktes Kykladon SA for the creation of four 4-star hotels with a capacity of 157 beds also in Agios Stefanos. The total investment adds up to 15.5 million euros.
• Santorini: 1.2 million euros in subsidies has been granted to Santorini Hotel & Tourism Enterprises SA for the creation of three 3-star holiday homes in Perivolos. The total investment adds up to 8.1 million euros.
• Crete: 4.28 million euros in subsidies has been granted to Karantzis Industrial and Hotel Enterprises SA for the creation of a 5-star hotel in Hersonissos, Heraklio. The total investment adds up to 14.3 million euros.
• Crete: 12.4 million euros in subsidies has been granted to Xenia Expert SA for the creation of a 5-star hotel with a capacity of 285 rooms in Platania, Chania. The total investment adds up to 41.35 million euros.
• Kefalonia: 1.97 million euros in subsidies has been granted to Fokas SA for the creation of a 4-star resort of holiday homes with a capacity of 55 beds. The total investment adds up to 3.93 million euros.
• Ios: 1.83 million euros in subsidies has been granted to Lucas SA for the creation of a 5-star resort of holiday homes with a capacity of 62 beds. The total investment adds up to 5.23 million euros.
• Pylos (mainland town) 2.96 million euros in subsidies has been granted to Koron Villas SA for the creation of a 5-star hotel. The total investment adds up to 5.9 million euros.