Lordos Hotels has reported a profit of €3.5 million for the year 2024, signalling a decline from €3.9 million in the previous year. However, the company is optimistic about an upswing in its financial performance for 2025, as indicated in a recent announcement from the Cyprus Stock Exchange (CSE).
The initial half of 2025 has already shown promising results for the hotel group, with a net profit of €605,800, a significant recovery from a loss of €236,800 during the same timeframe last year. Profit attributable to shareholders has also seen a notable increase, rising to €438,300 compared to just €73,900 in the first half of 2024.
Lordos hotels: Factors Contributing to Financial Recovery
The resurgence in profits has been largely attributed to the reopening of the Lordos Beach Hotel, which underwent renovations throughout 2024. This reopening has led to a remarkable 39 per cent increase in turnover, highlighting the potential for growth as travel and tourism activities regain momentum.
Shareholder Confidence and Future Plans
In June, shareholders demonstrated their confidence in the company’s direction by approving a dividend of €0.04 per share at the annual general meeting. During this meeting, management outlined ambitious new business plans aimed at sustaining and enhancing profitability in the coming years.
Looking Ahead
With the hospitality sector gradually recovering and strategic initiatives in place, Lordos Hotels is positioned to improve its financial outlook further in 2025. Stakeholders await the outcomes of these plans as the group seeks to build on its recent successes.
