The hotel occupancy rates in Cyprus for the summer of 2024 are expected to be lower than those in 2023, according to current data, says Thanos Michaelides, the President of PASYXE.
Michaelides stated, “We continue to be concerned about how summer occupancy will fare, considering everything happening around Cyprus,” while regarding the UK economy, he said it “shows some weaknesses.”
He also added that despite efforts to fill the gap left by the UK and Israel with new markets like Poland, France, and Germany, “there is concern” about how the new season will unfold.
He noted that the flow of bookings for the summer of 2024 seems to lag behind compared to the summer of 2023.
Michaelides also referred to April, noting that occupancy rates showed a decline compared to April 2023, partly due to the fact that the Catholic Easter was in March, with a significant time difference from the Orthodox Easter.
Regarding hotel occupancy for the Easter weekend, he stated that it was satisfactory throughout Cyprus, expressing hope for a solution to the situation in Israel soon, so that this market, which is one of the most important for Cyprus, can resume.
Regarding the employment of labor, the President of PASYXE Cyprus said that the processing of applications has become faster, which is “helpful,” but he said that efforts must continue to make the process even faster and the hotel industry more productive.
However, he mentioned that hoteliers are facing a problem with finding labor, not only in terms of numbers but also in terms of suitability.
“As we enter the summer season and since the labor issue is global, options are also fewer,” he concluded.
