Cyprus hotels face 20 percent booking decline amid Middle East instability

Dr. Christos Angelidis, President of the Cyprus Hotel Managers Association (PASYDIXE), reported that the hotel industry in Cyprus is experiencing an estimated 20 percent loss in bookings for the remainder of the season. This decline is attributed to the ongoing instability in the Middle East, which led to a significant wave of cancellations over the past two to three months. Angelidis noted that the trend of cancellations has now stabilized, and reservation flow is gradually improving. Despite this improvement, booking levels remain below the targets required for a strong tourism season. To mitigate losses, hotels are implementing promotional advertising and offering competitive pricing, including special deals targeting the domestic market. The industry suggests that rising airfare and accommodation costs in other regions make local Cypriot tourism a more attractive and affordable alternative. Hoteliers have been urged to maintain high service standards despite the current fiscal challenges. Efforts continue to entice both international tourists and local residents who have not yet finalized their vacation plans.