Cyprus hotel industry expects to limit annual losses to 10 percent

Christos Angelidis, Director General of the Cyprus Hotel Association (PASYXE), reported that the hotel sector is aiming to contain total losses for 2026 to approximately 10 percent. This target follows a difficult start to the year, during which the industry faced significant challenges.

The period between March and May 2026 was particularly arduous, characterized by losses reaching approximately 30 percent and a high volume of cancellations that impacted the broader tourist season. However, concerted efforts by the private sector, the Deputy Ministry of Tourism, the Association of Cyprus Travel and Tourism Agents (ACTTA), and Hermes Airports, helped the industry regain lost ground starting in June. July and August subsequently performed at satisfactory levels, helping to stabilize the sector.

Looking ahead, the outlook for September and October remains positive, with initial bookings already appearing for November. Industry officials expressed cautious optimism that current trends will hold, provided there are no further significant market disruptions, as they continue working to mitigate the overall impact of the year's earlier instability.