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The industry has seen a drop in commercial real estate values due to higher interest rates and lower occupancy levels.
The budget for the project is 10,696,860 euros and has been included in the public investment program.
Airliners have increased their routes to and from Chania and Sitia airports to better serve passengers.
Aro Palace features 189 guest rooms and suites and a further 67 executive rooms and suites, a spa, bars, and business lounges.
The most recent increase in Americans with REITs is predominantly fueled by the increase in equity investment since the pandemic, along with an increased share in target date funds.