Construction of the scheme has commenced with cores for each block now complete and completion still on track for 2026.

Excavations have been completed over 75% of the total volume of 400,000 m3 of soil and concreting of walls over 45%.

The renovation works will begin in the spring, while the total investment amounts to €1 million.

The project will add 35 rooms to the hotel, 11 more than the original feasibility study allowed, bringing the number of rooms to 184.

The total amount of the investment will reach 20 million euros.

The total budget of the project amounts to 15.6 million euros.

The construction contract amounting to 100 million euros

Blackstone' shares surged 83% last year, including reinvested dividends, beating its biggest peers as well as the S&P 500, which returned about 25%.

Net Asset Value as of December 31, 2023 amounted to €298.4 million compared to €210.9 million, an increase of 41.3% compared to December 31, 2022.