Insider Business Hoteliers reducing prices to boost occupancy

Hoteliers reducing prices to boost occupancy

Hoteliers have reduced their prices by as much as 15% this summer to respond to a drop in tourist arrivals, philenews reported on Thursday.

Despite this, they say that they are satisfied by the amount of bookings they have, as things could have been a lot worse.

In addition, they say that all-inclusive reservations remain at the same levels as last year.

Paphos Hoteliers Association president Thanos Michaelides said that in Paphos around 70% of hotels offer all-inclusive bookings.

In the free Famagusta area, the president of the local Hoteliers Association Doros Takkas said that all-inclusive bookings make up around 30%-40% of the total reservations.

According to the Cyprus Hotel Association chairman Harris Loizides tourism rates are down this year as there are problems with specific tour operators who attract visitors from the Russian market, Cyprus’ second biggest source of tourists, the rouble as well as encouragement from Russian authorities to visit Turkey and Egypt.

The UK, which is Cyprus’ biggest market, is affected by Brexit while the German market is constrained by lower airline capacity after the bankruptcy of two airlines.

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