MRH Switzerland AG, the hotel division of AEVIS VICTORIA SA, reported a continued growth in the first half of 2026, outperforming a slightly declining Swiss hotel market. The company's revenue rose by 1.0% to CHF 104.9 million, while maintaining high operating profitability. The average room rate increased by 2.8% to CHF 651, and revenue per available room (RevPAR) rose by 3.2% to CHF 354, confirming the portfolio's resilience and qualitative outperformance.
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 this, the Swiss hotel market is expected to post a decline of approximately 0.7% for the first half of 2026 as a whole. The final figures for June will be published by the FSO on 4 August 2026.
In this less favorable environment, MRH recorded 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 occupancy rate remained virtually stable at 54.3% (H1 2025: 54.1%). The increase in RevPAR is primarily due to an improvement in the average rate rather than an increase in occupancy, demonstrating MRH's ability to create value through the positioning of its properties, pricing discipline, and the quality of its offerings.
The EBITDAR margin, a key indicator of operating performance given the AEVIS Group's integrated real estate structure, is expected to remain largely stable compared to the historically high level recorded in the first half of the previous year (26.1%). This trend is driven by an increase in the margin for the Food & Beverage business, which reached 16.6% (H1 2025: 15.1%), as well as effective control of administrative, energy, and operational expenses.
Following the completion of a major investment cycle in its properties, MRH is continuing its strategy focused on revenue quality, pricing discipline, and the continuous improvement of each asset's operational performance, leveraging the synergy between AEVIS's hotel portfolio and the expertise of Michel Reybier Hospitality. MRH is entering 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 in Switzerland and abroad, including in Zurich, Interlaken, Bern, Crans Montana, Zermatt, Davos, Flims, and London. The chain manages a portfolio with 1,180 rooms, generating 367,819 overnight stays annually, and employs 1,153 staff members. MRH Switzerland AG is a 100% subsidiary of AEVIS VICTORIA SA.
