The Cypriots are set to be the first country to purchase hotels supplies in a bid to help the island’s economy.
The Cywelan Hotel, which is owned by the Cyprios, plans to purchase hotel supplies and other equipment in the coming months to help its operations in Cyprus.
The hotel’s website lists hotels, restaurants and accommodation as part of its business.
Hotel supply company Cywela, which specializes in hotels, said the hotel’s stock was up 25 percent in the past three weeks, due to the increase in demand.
The hotel will have to pay for supplies such as heating and electricity as part-time workers have not been able to get work visas.
“This is part of the new economic growth strategy that will help us achieve sustainable growth in the short term, and we hope to be able to sustain our operations for many years to come,” said Yannik Vougiou, CEO of the Cyweli hotel.
The company said it has invested in equipment such as computers, scanners and printers and is working on securing additional capital.