Stademos Hotels Plc reported group interim management statement for the period from January 01, 2013 to May 27, 2013. For the period, the group's turnover fell 11.8% in the first fourth months of the year. This drop is mostly attributable to the Mediterranean Hotel in Limassol, which remained closed until mid February 2013 due to refurbishments.

The operating expenses are lower than last year's for the same reason. As a result, the gross operating loss remains at the same level as in 2012. The finance cost is slightly increased during the period due to the interest rate increase.

It is difficult to make safe forecasts for the rest of the year, because one cannot assess how developments of the Cypriot economy will affect the tourist industry of Cyprus.