Cyprus hotels report 20% decline in occupancy rates for the summer season

Cyprus hotels and tourist accommodations are facing an approximate 20% decline in occupancy rates for the current summer season compared to the previous year. Thanos Michaelides, President of the Cyprus Hotel Association (PASYXE), noted that occupancy for June, July, and August stands at about 70%, whereas expectations for this period typically exceed 90%. Dr. Christos Angelides, President of the Cyprus Hotel Managers Association (PASYDIXE), attributed the downturn to the ongoing crisis in the Middle East. While mass cancellations seen over the past two to three months have ceased, current booking levels remain insufficient to recover the lost numbers. Both officials emphasized that maintaining high service quality is a priority despite the financial pressure. To mitigate the impact, the industry is implementing measures such as targeted advertising, competitive pricing, and special offers for the domestic market. These efforts aim to encourage local residents to vacation within Cyprus rather than abroad, as international airfare and accommodation costs continue to rise.