Cyprus hotels aim to limit 2026 losses to 10 per cent

Nicosia, Cyprus. Cyprus’ hotel sector hopes to limit its losses for 2026 to around 10 per cent after a difficult spring and more encouraging bookings in July and August, Cyprus Hotel Association director-general Christos Angelides said on Wednesday.

He said the sector had recovered a significant part of the ground lost earlier in the year and was aiming to sustain the improvement through the autumn.

Spring losses and summer recovery

Angelides told the Cyprus News Agency that hotels recorded losses of around 30 per cent during March, April and May, alongside cancellations for the remainder of the season.

He said efforts by the private sector, the Deputy Ministry of Tourism and stakeholders including ACTTA, Hermes and their members had produced results.

“We recovered a significant amount of the lost ground in June,” Angelides said, adding that July and August performed at satisfactory levels despite the large number of earlier cancellations.

Comparison with 2025

Angelides said the summer performance was particularly encouraging because 2025 had been a historic year for the hotel industry, when almost all hotels operated at full capacity.

Asked whether July and August had exceeded the corresponding months of 2025 and reduced annual losses, he said this was not the case, citing the exceptionally strong performance recorded last year.

He nevertheless described the latest figures as very satisfactory.

Autumn outlook

Hotel occupancy for September is currently running at around 75 to 80 per cent, Angelides said, adding that the sector hoped for similar levels in October.

He said last-minute bookings and reservations made two or three weeks in advance continued to dominate the market, a pattern that could benefit Cyprus during the autumn.