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Wednesday, July 24, 2024

FTI Bankruptcy: Losses on arrivals in Cyprus are not great, says Yf. Tourism

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    Π&tau ;oχυηοιιεςαις σηνδειεε ; Υφ. Τοριοy

    This is definitely a negative development for the tourism of our country, as it comes at a time when we were trying to strengthen the German market, said the Deputy Minister of Tourism

    Negative developmentthe bankruptcy of the German tourism group FTI described the bankruptcy of the FTI Tourism Deputy Minister for Cyprus tourism. He notes, however, that the volume of losses in terms of arrivals is not particularly large.

    “This is definitely a negative development for the tourism of our country, as it comes at a time when we were trying to strengthen the German market and additionally because every loss now counts because of the pressuresaccepted by the hotel industry more broadly”, says the Deputy Minister of Tourism in a written statement.

    He also points out that the volume of losses at the level of total >arrivals for the tourism of Cyprus is not particularly large.

    “However, it is certainly a serious loss for the hotel companies that had cooperation with this particular Travel Organiser”, he adds.

    He also mentions that the Deputy Ministry is in contact with hotelier associations, and together they are making an accurate assessment and management of the situation.

    Furthermore, The deputy minister states that the financial problems of the specific group were known to the tourism community, although last April there were hopes for the normalization of the problems, a consequence of the possible entry of a well-known American consortium of investors into the group. However, he adds, for a number of reasons this did not have a positive outcome.

    Source: cyprustimes.com

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