Hotel and tourism business upgrade plan
Beneficiaries are the hotel units which:
(a) either had a classification in force on 14 March 2019 for the specific enterprise (Hotel or Tourist Accommodation) by the Deputy Ministry of Tourism (former CTO) and in any Category and Class in accordance with the provisions of the “Hotels and Tourist Accommodation Laws 1969-2014”,
(b) either have a valid operating license and classification by the Deputy Ministry of Tourism for the operation of the specific business (Hotel or Tourist Accommodation) and in any Category and Class, where applicable, in accordance with the provisions of the “Regulation of the Establishment and Operation of Hotels and Tourist Accommodation Laws of 2019-2022”.
Applications will be accepted until 01/12/2023 at 12:00pm or until the available budget is exhausted, whichever comes first. A call for tenders is also planned in 2024.
Depending on the area where the hotel is located, it can be subsidized at a rate of 50-75% of the cost for investments related to the following categories:
- Digital Upgrade
- Building, Electromechanical works and Other Indoor and Outdoor Works, Special Installations and Systems
- Machinery, Furniture and Equipment
- Consultants’ and Experts’ Fees
- Small Equipment and Linen, with a maximum amount of €400 per room/business apartment
- Expenditure arising from the terms of funding (visibility, publicity)
