Paphos Hotel Occupancy Down 20% As Summer Demand Falls Short

Hotel occupancy across the city and district of Paphos is running around 20% below the same period last year, according to Cyprus Hotels Association (PASYXE) President Thanos Michaelides.

Speaking to the Cyprus News Agency, Michaelides said the decline is particularly noticeable during the peak summer months of June, July and August, when hotels would normally expect occupancy to exceed 90%. This year, however, average occupancy is hovering at around 70%.

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Last-Minute Bookings Are Helping, But Not Enough

Michaelides said bookings have picked up in recent weeks, supported mainly by last-minute reservations. While the trend has eased some of the pressure on the sector, it has not been enough to restore occupancy to typical seasonal levels.

Industry Response Focuses On Local Demand And Value

Hotels are responding by placing greater emphasis on the domestic market, rolling out targeted promotional offers and maintaining high service standards to attract both local and international visitors.

Michaelides expressed confidence that these efforts will help sustain demand through the remainder of the summer as the sector continues working to recover from earlier losses.

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

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