Ammochostos Hotels Open For Season Despite 42% Drop In Bookings

Introduction

Hotels in the Ammochostos region are proceeding with planned openings despite weaker bookings linked to regional tensions. Operators expect higher occupancy during the Easter period, supported by packages targeting domestic travelers.

Hotel Openings And Adjusted Operational Timelines

Panagiotis Konstantinou, President of PASYXE Ammochostos, said 65 hotels in Ayia Napa and Protaras are already operating, with the remaining properties scheduled to open by the end of the month. A total of 252 accommodations are expected to be fully operational by the end of April. Bookings are down by about 42%, although cancellations have decreased, indicating potential stabilization in demand. Hoteliers are introducing local tourism offers for Easter to increase occupancy in the coming weeks.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Enhanced Local Attractions And Seasonal Appeal

Restaurants and other tourism businesses have also resumed operations across the region. Municipalities, including Ayia Napa and Paralimni-Deryneia, are preparing for increased visitor activity. George Tofinis, President of ETAP Ammochostos, said the region offers a mix of cultural and outdoor activities, including religious events and coastal excursions. Spring conditions support outdoor tourism beyond the peak summer season.

Sporting Events And Strategic Tourism Development

Tourism authorities are promoting a series of sporting events to support seasonal demand. Scheduled events include a football academy tournament in early April, the Cyprus Road Race Grand Prix in Protaras and the International Open Water Swimming Cup on April 18–19, 2026. These events are expected to attract participants and visitors, contributing to early-season tourism activity. Event-driven demand remains a key component of regional tourism strategy.

The Future Forbes Realty Global Properties

Cyprus Banks Urged To Focus On Long-Term Resilience As Profits Remain Strong

by THEFUTURE.TEAM

June 26, 2026

The Cypriot banking sector remains in a strong position, supported by solid capital buffers and overall financial stability, according to speakers at the annual general meeting of the Association of Cyprus Banks. At the same time, government officials and regulators stressed that maintaining this position will require continued discipline and long-term planning.

A Strong Sector, But Not A Complacent One

Finance Minister Makis Keravnos used the meeting to highlight concerns over draft laws recently passed by parliament, which, according to the Ministry of Finance, the Central Bank and the Legal Service, may contain constitutional, legal and institutional issues. Those concerns, he noted, led to presidential referrals and remittals to the Supreme Court.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Keravnos also said the European Central Bank had been consulted on proposed measures concerning the suspension of foreclosures and the restructuring of loans and guarantees, adding that the ECB had expressed its own concerns.

Profitability Should Reflect Real Economy Lending

While acknowledging that the banking sector remains highly profitable, Keravnos said earnings are expected to reach around €1 billion in 2025, lower than in 2024 as interest-rate conditions gradually normalize.

He said he would prefer bank profitability to rely more on lending to businesses operating in productive sectors and less on the widening of European Central Bank interest-rate spreads.

According to the minister, Cyprus’ return to investment-grade status after 11 years has strengthened the country’s appeal to foreign investors, technology companies and startups. He said this should encourage banks to offer financing that better supports businesses while improving the diversification of their loan portfolios.

The Central Bank’s Warning: Strength Today Is Not A Guarantee Tomorrow

Central Bank Governor Christodoulos Patsalides also warned against complacency, saying the sector’s current strength should not be taken for granted.

“The Cypriot banking sector is strong today. But strength that truly matters is not exhausted by a capital ratio, a profit line or a favorable cycle,” he said.

Patsalides added that lasting resilience depends on institutions remaining strong as conditions change, risks become more complex, and competition evolves. In his view, that requires sufficient capital buffers, adaptable infrastructure and management teams prepared for changing market conditions.

Long-Term Resilience Over Short-Term Gains

Patsalides also stressed that banks should focus on long-term resilience rather than short-term performance. Decisions on dividend policy, capital allocation and the use of resources, he said, should take into account continued investment in technology, operational resilience, human capital and long-term adaptability.

He added that banks able to remain competitive over time will be those that invest early in strengthening their capacity to adapt and respond to future challenges.

Breaking news