Politis

Thanos Michaelides, PASYXE to 'P': Goal of year-round hotel operation closer

Published January 26, 2026, 05:10
Thanos Michaelides, PASYXE to 'P': Goal of year-round hotel operation closer

The president of PASYXE, Thanos Michaelides, estimates that 2025 will be a stable year for the Cypriot hotel industry, with occupancy rates similar to 2024. If there are no significant changes, a similar course is expected for 2026, creating a basis for extending the tourist season and the year-round operation of hotels. Already, more units have decided to remain open during the winter period of 2025-2026, while investments in Famagusta contribute to extending their operation. Mr. Michaelides emphasizes that profitability remains a challenge, as operating costs, such as energy costs, are high. However, the stability achieved is important for attracting investment and improving services. He points out the need for continuous investment in hotel units, in order to maintain competitiveness and achieve the goal of year-round operation. Regarding geopolitical developments, Mr. Michaelides states that Cyprus must stop relying on protection from the US and seek solutions for its security, taking into account potential Greek-Turkish conflicts. Cyprus must prepare for an unstable environment and take initiatives to protect its interests.