MRH Switzerland AG, the hotel division of AEVIS VICTORIA SA, reported continued growth in the first half of 2026, despite a slight decline in the 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) climbed by 3.2% to CHF 354, underscoring 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. June estimates show a 2.2% decline in overnight stays, including a 4.6% drop in foreign demand. As a result, the Swiss hotel market is expected to decline by approximately 0.7% for the first half of 2026. Despite this challenging environment, MRH achieved revenue growth, with accommodation revenue rising to CHF 61.5 million from CHF 60.9 million, and food and beverage revenue increasing to CHF 38.0 million from CHF 37.7 million.
The occupancy rate remained nearly stable at 54.3% (H1 2025: 54.1%), indicating that the increase in RevPAR was driven primarily by higher average rates rather than higher occupancy. This reflects MRH's ability to create value through strategic property positioning, pricing discipline, and the quality of its offerings. The company's EBITDAR margin, a key performance indicator given the integrated real estate structure of the AEVIS Group, is expected to remain largely stable compared to the historically high level of 26.1% recorded in the first half of 2025. This stability is supported by an improved margin in the food and 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. 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, under the Michel Reybier Hospitality brand. The portfolio comprises 1,180 rooms and generated 367,819 overnight stays annually, employing 1,153 staff members. MRH is a wholly-owned subsidiary of AEVIS VICTORIA SA, which also holds interests in Swiss Medical Network, Infracore, Swiss Hotel Properties, and NESCENS. For more information, visit the Michel Reybier Hospitality website and AEVIS VICTORIA SA's website.
