MRH Switzerland AG Outperforms Declining Swiss Hotel Market in H1 2026

MRH Switzerland AG, the hotel division of AEVIS VICTORIA SA, continued to grow in the first half of 2026 despite a slightly declining Swiss hotel market. The company reported consolidated revenue of CHF 104.9 million, an increase of 1.0% compared to the same period in 2025. Revenue from accommodation rose to CHF 61.5 million, while food and beverage revenue grew to CHF 38.0 million.

According to provisional data from the Federal Statistical Office (FSO), the Swiss hotel industry recorded 16.2 million overnight stays between January and May 2026, a 0.3% decrease year-on-year. June estimates show a 2.2% decline in overnight stays, including a 4.6% drop in foreign demand. The Swiss hotel market is expected to post a decline of approximately 0.7% for the first half of 2026 as a whole.

In this less favorable environment, MRH outperformed the market with a 1.0% increase in revenue and more pronounced growth in key performance indicators. The average room rate increased by 2.8% to CHF 651, and revenue per available room (RevPAR) rose by 3.2% to CHF 354. Occupancy remained virtually stable at 54.3%, indicating that the RevPAR growth was driven primarily by rate improvement rather than higher occupancy. This demonstrates MRH's ability to create value through strategic property positioning, pricing discipline, and quality offerings.

The company maintained strong operating profitability, with the EBITDAR margin expected to remain largely stable at the historically high level of 26.1% recorded in the first half of 2025. This was supported by an improvement in the food and beverage margin, which reached 16.6% (up from 15.1%), and effective cost control across administrative, energy, and operational expenses.

Following a major investment cycle in its properties, MRH is continuing its strategy focused on revenue quality, pricing discipline, and operational performance enhancement, leveraging synergies between AEVIS's hotel portfolio and Michel Reybier Hospitality's expertise. The company enters the second half of the fiscal year with confidence while remaining attentive to changes in international demand, geopolitical volatility, and general economic conditions.

MRH Switzerland AG operates eleven hotels under the Michel Reybier Hospitality brand in premium destinations including Zurich, Interlaken, Bern, Crans Montana, Zermatt, Davos, Flims, and London. The portfolio comprises 1,180 rooms and generated 367,819 overnight stays annually. The chain employs 1,153 staff members. MRH is a 100% subsidiary of AEVIS VICTORIA SA. For more information, visit Michel Reybier Hospitality and AEVIS VICTORIA SA.