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Major investment in auxiliary lodgings

Some 140 billion drachmas will be invested in Greece`s auxiliary lodging units – rented rooms and apartments – over the next seven years if a recent subsidy proposal is accepted by the government.

The Association of Rental Rooms and Apartments Enterprises forwarded an investment proposal to the Hellenic Tourism OrganizationEOT<.> that requests grants of up to 69.8 billion drachmas against a total investment package of 140 billion drachmas for modernization works.

This marks the first time the 30,000 or so Greek enterprises, with a total bed capacity of 500,000, has applied for funds from the EU-Greece tourism investment program, or the 3rd Community Support Program.

If approved, the majority of funds go toward upgrading rooms in order to comply and meet new Key category regulations. Before year end, the Hellenic Tourism Organization hopes to begin placing all rental rooms and apartments under categories similar to the star categories used by hotels….

Some 140 billion drachmas will be invested in Greece`s auxiliary lodging units – rented rooms and apartments – over the next seven years if a recent subsidy proposal is accepted by the government.


The Association of Rental Rooms and Apartments Enterprises forwarded an investment proposal to the Hellenic Tourism OrganizationEOT<.> that requests grants of up to 69.8 billion drachmas against a total investment package of 140 billion drachmas for modernization works.


This marks the first time the 30,000 or so Greek enterprises, with a total bed capacity of 500,000, has applied for funds from the EU-Greece tourism investment program, or the 3rd Community Support Program.


If approved, the majority of funds go toward upgrading rooms in order to comply and meet new Key category regulations. Before year end, the Hellenic Tourism Organization hopes to begin placing all rental rooms and apartments under categories similar to the star categories used by hotels.

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