Hotels
In 2018, hotel units in Cyprus amounted to 791 with 84,500 beds, a number that is expected to grow to 90,000 in 2019 and 92,000 in 2020 due to the construction of 9 hotels according to a recent KPMG report. Limassol currently has 68 hotel units, Paphos has the largest number with 265 whilst Nicosia has the smallest number of 26 hotel units.
As reported by KPMG in their report, as far as the hotel occupancy is concerned, Cyprus compared to its direct competitors in the Mediterranean (Greece, Spain, Malta, Italy) recorded an increase of 16.7% in 2014-2017. This increase is due to improved arrivals of tourists as well as to the fact that there has been no significant increase in beds during this period. The report also points out that although there is 101 holiday accommodation in the countryside, most of them (81) are not hotels but small hostels and rooms.
Airbnb
As far as Airbnb accommodation is concerned in 2018, 7,319 guests in Limassol chose Airbnb accommodation and over 34,500 across Cyprus, that is a 48% increase compared to the previous year, according to KPMG's report. These figures show that renting Airbnb accommodation is an emerging market that is expected to become an important part of the tourism industry in the coming years.
