Positive outlook for hotel occupancy in Paphos

The President of the Paphos Hoteliers’ Association Evripides Loizides this week expressed satisfaction with the outlook of the tourism sector in Paphos, saying that hotel occupancy rates in the district are expected to exceed 80 per cent.

During an interview with the Cyprus News Agency (CNA), Loizides described March as a particularly positive month compared to the same period in 2022.

He mentioned that April and May saw lower occupancy rates in Paphos hotels until mid-June. However, since mid-June, there has been a notable increase in reservations, and July and August are expected to reach occupancy levels similar to those of 2019.

Furthermore, Loizides stated that August is expected to surpass July’s occupancy rates, and September is showing promising signs, although it is too early to make accurate predictions.

When asked about the key source markets for Paphos, Loizides mentioned that the English, Polish, Israeli, and German markets have been promising, albeit with a smaller number of arrivals from Germany.

The major challenge, Loizides continued, is the availability of staff. While some permits have recently been approved, it may take up to two months to complete the hiring process.

Additionally, he highlighted that many students and seasonal workers employed in hotels are expected to leave for their studies toward the end of August, causing additional issues for Paphos’ hotels.

Regarding operational costs, Loizides emphasised that they remain high, particularly in terms of energy costs and banking charges.

Loizides concluded by stating that high interest rates are weighing heavily on the tourism industry, adding that measures should be taken to alleviate the burden.

Despite the challenges, he expressed optimism that the current season will be better than 2022, but it is unlikely to reach the levels seen in 2019.