August 2025: real estate, tourism, and hospitality press review.

Last update : 1 September 2025

At the close of summer 2025, the holiday season is in full swing and Alpine resorts are buzzing with activity. Visitors, seeking cooler air and authentic experiences, confirm the mountains as an essential destination of the season. Tourism is showing a decidedly optimistic trend, driven by rising summer attendance and innovative initiatives by resorts to diversify their offerings. Mountain hospitality continues its upmarket shift and expansion: major brands are entering new markets, while independent players are joining forces to strengthen competitiveness. On the real estate side, the French market is beginning a moderate recovery, supported by stabilized interest rates and renewed buyer confidence. At the same time, investors are regaining confidence and once again betting on the mountains, attracted by ambitious new tourism projects. This August 2025 press review presents a selection of notable news stories highlighting these encouraging trends as well as projects clearly geared toward the future.

Logis Hotels reports a record summer season.

The cooperative group Logis Hotels (1,850 independent establishments) is celebrating its seventh consecutive summer of growth. Between July 1 and August 31, revenue rose by +16% compared with 2024, fueled by an influx of French guests (+21%) and European visitors (+7%)—particularly Swiss (+25%), British (+16%), and German (+15%) travelers returning this summer. The business segment also rebounded in July (+24% vs. 2024) after last summer’s downturn linked to the Olympic Games. Tight control over pricing (average rate increase limited to +4%) and the success of the ETIK loyalty program (+8% in revenue) contributed to these results. Direct sales through the Logis booking platform grew sharply (+50%), reducing the share of OTAs to 50% of online bookings. The group’s premium brands (Demeures & Châteaux, Singuliers Hotels) even recorded +50% revenue growth, reflecting the strong momentum in the upscale segment. According to CEO Karim Soleilhavoup, these results “demonstrate the robustness of the independent hospitality model” championed by Logis, which is set to expand further with the upcoming integration of Teritoria hotels acquired this summer.

Rosewood opens a luxury hotel in Courchevel.

Rosewood Hotels & Resorts has announced the upcoming December opening of its first property in the French Alps, Rosewood Courchevel “Le Jardin Alpin,” further strengthening its presence in Europe. This new luxury hotel will feature 51 rooms and suites, a spa, terrace restaurants, a kids’ club, and direct ski-in/ski-out access. It is the result of the transformation of the former Hôtel Les Aiglons. The renovation, led by designer Tristan Auer, aims to redefine “the standards of the contemporary Alpine experience” while honoring the local spirit. This will be Rosewood’s second property in France (after Hôtel de Crillon in Paris) and its first ski resort location, marking the arrival of this international luxury brand in the Alps.

Bernard Arnault acquires a Riviera palace.

Billionaire Bernard Arnault, Chairman and CEO of LVMH, acquired in July the luxury hotel Cap Estel, a landmark 5-star property on the French Riviera, for approximately €200 million. Located in Èze on a private two-hectare peninsula, Cap Estel offers 20 exclusive suites, a Michelin-starred fine dining restaurant, a spa, two swimming pools (indoor and infinity), and a tennis court, all with panoramic views of the Mediterranean. The acquisition, finalized on July 17 through the Arnault family holding company Financière Agache, adds to his portfolio of luxury hospitality investments (Cheval Blanc, Belmond, Orient Express, etc.) and reflects the renewed appeal of France’s high-end hotel sector for major investors.

Accor reports growth in the first half of 2025.

The hotel group Accor has reported higher half-year results, reflecting “solid performance in a complex macroeconomic environment.” For the first half of 2025, the group’s RevPAR (revenue per available room) rose by +4.6% (driven by higher average rates offsetting stable occupancy), while revenue reached €2.745 billion (+5.1% at constant exchange rates). EBITDA came to €552 million, up +9.4%, with a particularly strong contribution from the Luxury & Lifestyle division (+14% EBITDA vs. +6.7% for midscale and economy hotels). Accor opened 117 new hotels (more than 15,000 rooms) during the semester, bringing its portfolio to 5,740 hotels across 110 countries. Based on these results, the group confirmed its annual targets (RevPAR growth of +3 to +4% in 2025, net network growth of around 3.5%, EBITDA expected to increase by +9 to +10%). These results validate Accor’s strategy of geographic and brand diversification. The group is also pursuing expansion through strategic partnerships (e.g., a joint venture in India targeting 300 hotels by 2030) and a €240 million share buyback program.

Hiking reaches historic highs in the Swiss Alps.

Summer 2025 set a record for outdoor tourism in Switzerland, with alpine hiking reaching unprecedented levels of popularity. Favorable weather conditions, combined with growing enthusiasm for sustainable travel, boosted the sector. According to the Federal Statistical Office, overnight stays increased significantly, with the summer season accounting for a major share of the 42.8 million hotel nights recorded in 2024. The “coolcation” trend—seeking the cooler air of the mountains to escape urban heatwaves—also played a key role. With its moderate summer temperatures and 65,000 km of maintained trails, the Swiss Alps reaffirm their position as a leading summer destination for nature-based and responsible tourism.

Tourist accommodations: a summer of strong growth.

Tourist residences, serviced apartments, and holiday villages recorded a +2.8-point increase in occupancy during the summer 2025 season compared with last year. According to the National Federation of Tourist Residences (FNRT), the period from July 1 to August 22 was marked by a surge in last-minute bookings, which added +7 points to occupancy rates from mid-July onwards—the week of August 15 nearly reached 90% occupancy. Rural destinations achieved the strongest results (82% average occupancy in July–August). Notably, after a relatively quiet July, the heatwave boosted mountain destinations in August: Alpine resorts gained +16 points in occupancy, with Haute-Savoie reaching 74.5% and the Pyrénées-Orientales 71%. Coastal areas remained broadly stable in August (~89% occupancy), while urban destinations experienced a slowdown in August following strong performance in July. These trends reflect travelers’ growing preference for outdoor stays (mountains, countryside) during periods of intense summer heat.

Record prices in French Alpine resorts.

While the national real estate market is slowing, property prices in the Alps continue to climb. According to a FNAIM survey conducted at the end of 2024, Val d’Isère remains the most expensive resort in France with an average price of around €14,000 per sq. m, closely followed by Courchevel (~€12,600). Several resorts in Savoie and Haute-Savoie now exceed €10,000/sq. m (Méribel, Megève, Chamonix, La Clusaz, etc.). Even mid-sized resorts such as Les Gets or Morzine are approaching €7,000–8,000/sq. m. Demand for Alpine real estate remains very strong, fueled by the transformation of resorts (year-round operations, upmarket positioning) and limited supply. As Le Dauphiné Libéré puts it: “When the national market slows, in the Alps it keeps rising”—a situation that cements the Northern Alps as the pinnacle of leisure real estate in Europe.

Slight recovery in the French real estate market.

In August 2025, the French residential market confirmed a moderate yet tangible recovery. Transaction volumes in the first half of 2025 rose by +12% compared with 2024, while average prices remained broadly stable (+0.4% year-on-year). The rise in interest rates has come to a halt, providing welcome relief: mortgage rates have stabilized at still-accessible levels, restoring buyer confidence. Summer traditionally creates favorable conditions for buyers, and 2025 was no exception—especially as the European Central Bank paused its rate hikes. Many households have seized this summer window to finalize their projects, in a context of tempered prices and sellers more willing to negotiate. Professionals are thus observing a market that is gradually rebalancing, paving the way for a more dynamic autumn across the country.

Hotel projects: Europe remains dynamic.

Hotel investment continues to thrive across the continent. At the end of June 2025, the European pipeline reached 1,690 hotel projects under development (representing 248,972 rooms), according to Lodging Econometrics. Nearly 44% of these projects are already under construction (744 hotels / 112,483 rooms), with an additional 376 projects scheduled to break ground within the next year. The upscale and upper midscale segments account for the majority of planned openings (40% of projects combined), reflecting the market’s qualitative positioning. Geographically, the United Kingdom leads with 282 projects, followed by Germany (157) and Turkey (138), then France with 118 projects in the pipeline (11,242 rooms). These five countries together represent nearly half of Europe’s hotel development activity. All indicators point to strong investor confidence in the sector, which continues to sustain a vigorous pace of construction and renovation despite economic headwinds—a sign of long-term optimism for the tourism industry.

SCPI investments: inflows rebound, yields hold steady.

After a pause in 2024, French SCPIs (real estate investment companies) are making a comeback in 2025. In the first half of the year, net inflows reached €2.2 billion, up +29% compared with the same period in 2024. Although still below the peaks of 2021, this level reflects a gradual return of capital to real estate funds, in a context of stock market uncertainty prompting savers to favor assets perceived as more stable. The market’s average distribution rate stood at 2.29% in the first half of 2025, a slight rebound from 2.25% in 2024. Some recently launched SCPIs posted high initial yields (sometimes above 7%) thanks to “seed” shares, but the AMF has issued a warning: such elevated rates are not indicative of sustainable performance once the portfolio is stabilized. The overall resilience of the SCPI sector is confirmed, but careful selection of vehicles (asset quality, tenant strength, and management expertise) remains essential before investing.

Date de première publication : 1 September 2025

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