Geopolitical instability impacts occupancy rates

Lordos Hotels (Holdings) Public Ltd has warned that its results for the first half of 2026 are expected to fall below last year’s levels, as geopolitical tensions in the Middle East continue to affect Cyprus’ tourism sector.

The listed hotel group said the weaker performance was linked to lower occupancy rates at its hotel units, reflecting the pressure felt by parts of the industry as regional instability weighs on travel demand.

“The results for the first half of 2026 are expected to be lower compared to those for the same period last year,” the company said, citing “lower occupancy rates at the group’s hotel units as a result of geopolitical tensions in the Middle East and their impact on Cyprus’s tourism sector.”

The update comes after a stronger performance in 2025, when Lordos Hotels benefited from higher occupancy levels and increased revenue per room across its properties.

However, despite the weaker first-half outlook, shareholders at the company’s annual general meeting, held on Wednesday, June 24, approved the payment of a dividend of €0.04 per share, in line with the board of directors’ proposal.

The dividend corresponds to 11.76 per cent of the nominal value of the share.

According to the company, the proposed record date has been set for Monday, July 6, and will include transactions finalised by the end of the trading session on Thursday, July 2.

As a result, the company’s shares will trade cum dividend until July 2 and ex-dividend from Friday, July 3.

Eligible beneficiaries will also include investors whose off-floor transactions are finalised and entered in the Dematerialised Securities System by the proposed record date.

The proposed dividend payment date has been set for Wednesday, July 15, although the exact date will be confirmed in a separate announcement.