MRH Switzerland AG, the hotel division of AEVIS VICTORIA SA, reported a 1.0% increase in revenue to CHF 104.9 million for the first half of 2026, even as the Swiss hotel market experienced a slight decline. The company's performance underscores its ability to thrive in a challenging environment through strategic positioning and operational efficiency.
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 compared to the same period in 2025. The second estimate for June 2026 shows a 2.2% decline in overnight stays, including a 4.6% drop in foreign demand. Based on these figures, the Swiss hotel market is expected to post a decline of approximately 0.7% for the first half of 2026 as a whole.
In contrast, MRH achieved a 1.0% increase in revenue, with accommodation revenue rising to CHF 61.5 million (H1 2025: CHF 60.9 million) and Food & Beverage revenue growing to CHF 38.0 million (H1 2025: CHF 37.7 million). The average room rate increased by 2.8% to CHF 651 (H1 2025: CHF 633), and revenue per available room (RevPAR) rose by 3.2% to CHF 354 (H1 2025: CHF 343). The occupancy rate remained virtually stable at 54.3% (H1 2025: 54.1%), indicating that the RevPAR improvement was driven by higher rates rather than increased occupancy.
This performance reflects MRH's focus on revenue quality and pricing discipline. The company's EBITDAR margin, a key indicator given the AEVIS Group's integrated real estate structure, is expected to remain largely stable compared to the historically high level of 26.1% recorded in the first half of 2025. The Food & Beverage margin improved to 16.6% (H1 2025: 15.1%), supported by effective control of administrative, energy, and operational expenses.
The results are particularly noteworthy given the broader market context. While the Swiss hotel industry faces headwinds from declining foreign demand and geopolitical volatility, MRH's portfolio of premium properties in destinations like Zurich, Interlaken, Bern, Crans Montana, Zermatt, Davos, Flims, and London has demonstrated resilience. The company's strategy leverages the synergy between AEVIS's hotel portfolio and the expertise of Michel Reybier Hospitality.
MRH is entering the second half of 2026 with confidence, maintaining its focus on revenue quality and operational performance. The company remains attentive to changes in international demand and general economic conditions. As the final June figures are expected to be published by the FSO on 4 August 2026, the industry will be watching to see if the trend of decline persists.
For more information, visit Michel Reybier Hospitality or AEVIS VICTORIA SA.
