Shareholders Venia Papathanasopoulou, Vasiliki Delistathi, and Muriel Laurence Marcelle Abecassi plan to establish a 4-star boutique hotel with a capacity of 8 rooms and 23 beds, in the area of “Ormos Ysternion,” Tinos.
The €2.2 million investment involves the renovation of an existing traditional building in the region. The investment plan has been included under the provisions of the Development Law 4887/2022, with a total eligible budget of €910,000 and a grant amounting to €437,081.50, representing 48% of the eligible expenditure.
The loan agreement signing ceremony took place at the offices of Alpha Bank, in the presence of Alpha Bank’s Small Business Banking Director, Alexandros Tolias, and the Head of the Special Coordination Service of the Recovery and Resilience Facility at the Ministry of National Economy and Finance, Orestis Kavallakis.
Mr. Kavallakis stated: “This investment in Tinos is a prime example of how the Recovery and Resilience Fund can act as a catalyst for strengthening local economies and supporting small and medium-sized enterprises, including women-led entrepreneurship. By leveraging the Fund's financial tools, we support investment projects that respect the environment and cultural identity of the region, creating the foundations for sustainable development and high-quality tourism.”
Mr. Tolias added: “Alpha Bank demonstrates in practice its strong commitment to supporting Greece’s tourism sector. We are especially proud to help bring to life the vision of three outstanding entrepreneurs—three women who have presented a well-structured and ambitious investment plan that will contribute significantly to the local economy of Tinos.”
The company’s shareholders also expressed their appreciation: “We are deeply grateful to Alpha Bank and the Recovery and Resilience Fund. Thanks to this important financial support, we are now able to move forward with our vision of enhancing tourism on the island we love—our Tinos—through the establishment of this 4-star hotel, by repurposing an existing building. Our aspiration is to infuse the project with our core values—respect, simplicity, quality of service, and kindness—and to offer them in service of both our guests and the local community of Ysternia. This project will meaningfully upgrade the area and address the growing demand for hospitality infrastructure. This investment is not just about creating a building, but about shaping a modern hospitality environment that inspires and drives progress in the tourism sector.”
The project will be implemented under the National Recovery and Resilience Plan “Greece 2.0”, with funding from the European Union – NextGenerationEU.
