The negative consequences of the crisis in the Middle East region are being experienced by the hotel sector in Cyprus, which is being significantly affected by the developments.
In fact, for the first time in many years, the rate of cancellations is greater than that of reservations.
The Director General of the Cyprus Hotel Association (Pasyxe) Christos Angelides, spoke about the current situation in the hotel industry in the March edition of the association's monthly newsletter 'Xenodochos.'
As he said, "there are a number cancellations for March, which reach approximately 40%," while "from there, unfortunately, the picture of cancellations versus bookings for April worsened."
"There is great concern in the hotel industry, because now we have entered a trajectory of cancellations for the rest of the summer and the rate of bookings is very low," he added.
According to Angelides, "we do have reservations, but the rate of reservations is much lower than expected, as well as much lower than the corresponding period last year, as well as the corresponding periods of previous years."
"This is the picture in relation to reservations and cancellations at the given moment. We as Pasyxe are following the developments with particular anxiety and we hope that this negative climate will be reversed as soon as possible and that normality will be restored," the Director General of Pasyxe concluded.
(Source: InBusinessNews)
