MRH Switzerland AG, the hotel division of AEVIS VICTORIA SA (AEVS.SW), has reported continued growth in the first half of 2026, outperforming a slightly declining Swiss hotel market. The company's consolidated revenue rose by 1.0% to CHF 104.9 million, while maintaining high operating profitability. This performance underscores the resilience and qualitative strength of its portfolio, particularly in the face of challenging market conditions.
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 indicates 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. The final June figures are scheduled for publication on 4 August 2026.
In this less favorable environment, MRH achieved a 1.0% increase in revenue and a more pronounced rise in its key revenue-per-room indicators. The average room rate increased by 2.8% to CHF 651 (H1 2025: CHF 633), while 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%). The increase in RevPAR is therefore primarily attributable to an improvement in the average rate rather than an increase in occupancy, demonstrating MRH's ability to create value through strategic property positioning, pricing discipline, and the quality of its offerings.
The EBITDAR margin, a key indicator of MRH's 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 in particular 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. This approach leverages the synergy between AEVIS's hotel portfolio and the expertise of Michel Reybier Hospitality. The company 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 premium destinations including Zurich, Interlaken, Bern, Crans Montana, Zermatt, Davos, Flims, and London. The chain manages a portfolio of 1,180 rooms, generating 367,819 overnight stays annually and employing 1,153 staff members. MRH is a 100% subsidiary of AEVIS VICTORIA SA, which also holds interests in Swiss Medical Network Holding SA, Infracore SA, Swiss Hotel Properties SA, and NESCENS SA. For more information, visit www.michelreybierhospitality.com or www.aevis.com.
