# Kos: Pelagos completes €10.67m hotel investment with state subsidy

> Greece's Development Ministry certified completion of a €10.67m hotel investment in Lambi, Kos, with a €4.32m subsidy.

- **Section:** New hotels
- **Published:** 2026-10-13
- **Publisher:** Voyage (https://thevoyage.gr)
- **Type:** our own summary of someone else’s reporting
- **Source:** Money Tourism — https://money-tourism.gr/kos-oloklirothike-xenodocheiaki-ependysi-1067-ekat-evro-tis-pelagos-a-e-epichorigisi-432-ekat-evro/

Greece's Development Ministry has certified the completion and start of operations of a €10.67 million investment by Pelagos S.A. in the Lambi area of Kos. The project involved modernizing an existing hotel complex, upgrading it from four to five stars, and expanding its capacity to 108 rooms and 240 beds.

The investment comprised two parts: modernizing the existing four-star furnished-apartment hotel (66 apartments, 156 beds) by converting it into a five-star classic-type hotel, and expanding it by 42 rooms. The total certified eligible cost was finalized at €10,667,427.76.

The approved subsidy amounts to €4,316,743.94, representing 40.467% of the eligible cost. The company's own contribution is €2,666,856.94 (25%), with the remainder financed through a bank loan of €3,683,826.88.

The new decision approves payment of €1,565,076.50 as the remaining subsidy balance, after deducting an advance of €2,708,500 and a penalty of €43,167.44 imposed because the company failed to notify authorities in time of changes in its shareholding structure. The certification confirmed retention of 23.92 annual work units, while setting a new target of 28.42 work units.

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This summary was written by Voyage based on reporting by Money Tourism. The full article is at https://money-tourism.gr/kos-oloklirothike-xenodocheiaki-ependysi-1067-ekat-evro-tis-pelagos-a-e-epichorigisi-432-ekat-evro/. Canonical URL of this page: https://thevoyage.gr/en/a/kos-pelagos-completes-10-67m-hotel-investment-with-state-subsidy