The hotel industry of our island indulges in an orgasm of growth. Record numbers in the tourism industry do not leave indifferent the entrepreneurs who try to take advantage of the momentum to expand their activities.
The urban incentives given by the Government, the various loan plans and the high demand for beds by travel agents support this direction.
The Cyprus Tourism Organization (CTO) is receiving a barrage of applications from hotel units seeking the Agency's approval to expand their accommodation to accommodate as many tourists as possible.
It should be noted that almost half of the tourist accommodation in the free province of Famagusta have requested expansion or upgrading, while the flow of applications received by the Technical Service of the CTO is continuous, as the head of the department Athena Metaxa told us. The CTO technical service is currently facing 61 applications under consideration - of which 51 relate to modifications to existing units and 10 new cases.
According to CTO data, during 2017, 62 new hotel applications were approved. Most applications have been submitted by businessmen for the free province of Famagusta and Paphos. During the last three years, the CTO has received about 50 applications for new hotels in the province of Famagusta, 40 applications for Paphos, 12 and 16 applications for Larnaca and Limassol respectively.
The CTO estimates that about 7 thousand beds have been erected in licensed accommodation and are expected to secure a permit, while they estimate that there are still 2,5 thousand beds under construction.
Finally, it is worth noting that crutches give entrepreneurs the new CTO sponsorship plans amounting to € 16 million. In this invitation, it is mentioned that special emphasis will be given to conference, sports and tourism of special interests.
Ghost hotels reopen
Amending legislation will provide incentives for the demolition of abandoned hotels. The new legislation will allow the owners to maintain the building rate which is increased, meaning that within a period of 12 months they will demolish the old building and proceed with the procedures for creating a new development, either hotel or other related development.
According to CTO data, in free Famagusta there is an abandoned unit in Ayia Napa. In Nicosia there are three hotels that need upgrading (Holiday Inn, Yorkio and the Makris Hotel in Kakopetria). Many closed hotels such as Englezakis, Pafian Park and Pafian Sun hotels reopen in Paphos.
As the data of the CTO show, in Larnaca are located the most abandoned buildings (eg Eva, Karpasiana, Heraion, Adonis), however these are few in number, while some of them are already in the process of upgrading.
There are not many such cases in Limassol, as many apartments were converted into residential ones in 2010.
Source: Philelefthros / Dimitra Landou
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