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Cyprus Hotels See 25–45% Easter Occupancy As Cancellations Persist

Limited Uptake During Easter

Hotel occupancy during the Easter period ranged between 25% and 45%, according to PASYXE CEO Christos Angelidis, indicating relatively weak demand. He noted that low booking levels and ongoing cancellations remain a concern. Easter is not typically a peak period for domestic hotel stays in Cyprus, as many residents opt for travel abroad or spend the holiday with family.

Seasonal Preparations And Booking Outlook

Angelidis said many hotels have already opened for the season, with full reopening across the sector expected by April 20. However, summer booking trends show limited improvement. Current reservation levels remain broadly unchanged compared to five weeks ago. “Cancellations are still taking place, and the booking pace is not sufficient to offset them,” he said.

Efforts To Revitalize Cyprus As A Destination

Despite some stabilization, booking momentum has yet to recover. Angelidis noted that the market continues to feel the effects of recent developments, even though Cyprus is not directly at the center of the crisis. Hotels are increasing promotional efforts, including social media campaigns and direct outreach. Sales teams are also traveling abroad to strengthen partnerships and secure new bookings.

Strengthening Cyprus’ Brand Image

Angelidis emphasized the need for a consistent positioning strategy, highlighting Cyprus as a safe and established destination. “Cyprus must continue and intensify its campaign as a safe and welcoming destination, building on its long-standing tourism offering,” he said. Maintaining a continuous presence in key markets is seen as critical to restoring demand and stabilizing bookings in the coming months.

Eurobank Wins Two Euromoney Awards Following Cyprus Merger

Eurobank has been named Cyprus’ Best Bank for 2026 by Euromoney, while also receiving the award for Best Bank for Large Corporates at the publication’s latest Awards for Excellence.

Merger Marks A Milestone

The awards recognise the bank’s performance during 2025, a year marked by the completion of the legal merger between Hellenic Bank and Eurobank Cyprus. The transaction created Eurobank Limited, which the group says is now Cyprus’ largest banking and insurance organisation, with assets exceeding €28 billion.

Euromoney’s Awards for Excellence evaluate banks’ performance over the previous calendar year, with this edition covering January 1 to December 31, 2025.

Lending, Customers And Digital Growth

Eurobank said its business lending portfolio expanded by around 17 per cent during 2025, while its customer base grew to more than 710,000 retail clients and 11,500 business customers.

The bank also continued its digital expansion, saying more than 96 per cent of transactions are now completed through digital channels, and most financing applications are submitted via its mobile app.

Expanding International Presence

Eurobank also highlighted the opening of its first representative office in India, describing the move as a step toward strengthening business links between Cyprus and India while supporting Cyprus’ role as a gateway to the European Union for Indian businesses and investors.

According to the bank, Euromoney recognised not only the successful completion of the merger but also its lending growth, digital transformation and contribution to Cyprus’ position as an international business and investment hub.

CEO On The Awards

“The Euromoney awards confirm Eurobank’s strong momentum and the successful implementation of our group’s strategy in Cyprus,” Chief Executive Michalis Louis said.

He said the merger strengthened the bank’s ability to support households, businesses and the wider economy, while highlighting continued investment in digital services and the opening of the representative office in India as key milestones during the year.

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