By Stelios Orphanides
Constantinou Bros, the Paphos-based hotel operator, said that it expects a considerable improvement in profitability in the first half of the year, compared with the first six months of 2015.
“The Board of Directors and the Management taking into account the general political and economic instability in Cyprus consider that no safe forecast of the expected results for the year 2016 can be made, but it is expected that the occupancy of the hotels will be higher based on the provisions of the Cyprus Tourism Organisation,” the company said in a statement on the Cyprus Stock Exchange’s website on Thursday.
The company operates the five-star Asimina Suites Hotel and the four-star Pioneer Beach Hotel, Athena Beach Hotel and Athena Royal hotels in Paphos.
The Cyprus Stock Exchange and Constantinou Bros publish no information about the latter’s past results on their respective website.
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