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.
Istanbul has the highest number of hotels with 221, followed by Antalya with 155 and Muğla province with 73.
The Boutique Hotel mark is an official certification for small hotels in Greece that offer exceptional aesthetics and innovative services.
The investment project has a budget of €107.6 million and involves the renovation of the Kallithea hotel complex, which spans 158 acres and boasts 850 meters of beachfront.
The Ministry of Culture has announced that the Central Council of Newer Monuments of the Ministry of Culture has approved the final study for the restoration.
Chinese investors, who previously showed great interest in this, come from a middle-class background and represent only a small percentage of investors.