Paphos and Famagusta hotels expect high August occupancy
Hotels in Paphos and Famagusta expect August occupancy of 80 to 90 per cent, while last-minute bookings and lower room prices affect the sector.

Nicosia, Cyprus. Hotel occupancy in Paphos is expected to reach 85 to 90 per cent in August, while Famagusta hotels forecast occupancy of 80 to 85 per cent, according to the districts’ hoteliers associations.
Paphos outlook
Paphos hoteliers association president Evripides Loizides told the Cyprus News Agency that demand would be particularly strong around the August 15 holiday, traditionally one of the busiest periods of the summer for hotels, tourist accommodation and restaurants.
Loizides said falling room prices and weaker bookings for the autumn continued to affect the sector. He expressed cautious optimism for August, noting the increasing importance of last-minute reservations.
He said consumers were delaying holiday decisions to seek the best possible prices, as higher living costs and financial pressure encouraged travellers to book shortly before departure.
Famagusta recovery
Famagusta hoteliers association president Panayiotis Constantinou said tourist traffic had improved significantly in July and August after losses in the opening months of the season.
Constantinou said the district’s main tourism markets were performing at fairly good levels. Demand was driven mainly by visitors from the United Kingdom, Israel, Poland, Scandinavia and Central Europe.
Tourist traffic from Switzerland and the Netherlands had weakened, largely because of fewer flights during the summer season.
Banking update
Citi raised its target price for Alpha Bank to €5.30 from €4.70 following the Greek lender’s strong second-quarter results, while retaining its buy recommendation for the shares.
This news item was generated automatically by Cyprus Inform from publicly available materials. Report an error →


