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July 2025: press review of real estate, tourism, and hospitality

Last update : 4 August 2025

In the height of the 2025 summer season, tourism is enjoying strong momentum, particularly in the mountains where resorts are innovating to lure summer holidaymakers. The hotel sector continues to expand: major chains are moving up‑market and entering new territories, while independent operators are teaming up to increase their clout. On the property front, the French market is showing signs of recovery, thanks to more stable lending conditions. Finally, investors are smiling again—property funds and tourism projects are regaining their appeal, buoyed by a more favourable financial climate. Discover a selection of standout news items that illustrate these positive, constructive trends.

Logis Hôtels is set to acquire the Teritoria chain.
The cooperative hotel group Logis Hôtels has announced that it has entered exclusive negotiations to acquire Teritoria, a network of 316 establishments founded by Alain Ducasse. If completed, the deal would create the largest independent hotel and restaurant network in France, with an expanded portfolio of 2,100 properties ranging from budget to ultra-luxury. Teritoria would notably contribute 129 four- and five-star hotels (in France and Italy), reinforcing Logis’ premium offering (including Demeures & Châteaux and Singuliers Hôtels brands). Teritoria’s CEO, Xavier Alberti, welcomes the alliance, which will allow independent hoteliers to “carry more weight together in shaping the future of hospitality” by pooling tools such as loyalty programmes and purchasing centres, as well as sharing common sustainability commitments.
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Italy: Club Med to build a new resort in the Alps
The upmarket holiday village specialist is strengthening its Alpine foothold. Club Med has announced a partnership with asset manager REAM SGR to develop a dual-season resort in San Sicario Alto (Vialattea ski area, Piedmont). This future complex, offering direct ski-in/ski-out access and panoramic views, will become the second Club Med in the Vialattea (after Pragelato) and the brand’s fifteenth Alpine destination. Designed for year-round operation, it will target an international family clientele and is expected to create 500 local jobs. “This resort will become a flagship of our premium and family-focused offering,” said Henri Giscard d’Estaing, president of the group, which is enjoying record-breaking performance in 2024 and is even considering a return to the stock market.
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Alps: A Summer of Innovation to Attract Holidaymakers
In summer too, the French Alps are brimming with dynamism and creativity. Several resorts are unveiling original new attractions: in Villard-de-Lans (Vercors), an immersive night-time trail, *Vercors en Lumières*, lights up the forest over 1.2 km, blending poetry with cutting-edge technology; in Superdévoluy (Hautes-Alpes), a four-season rail toboggan – the *Dévo’luge* – stretches 1,565 m and reaches speeds of up to 45 km/h, including a 360° spin for a thrilling family experience; and in Les Orres (Hautes-Alpes), a giant 1.9 km zip line offers a breathtaking flight over the ski area, more than 100 m above the ground. On the accommodation front, the upmarket shift continues: in Chamonix, Hôtel Les Aiglons has been transformed into a 4-star hotel with spa, while in Valmorel, a new luxury complex (a 5-star residence and a 4-star hotel) has opened its doors. Finally, Haute-Tarentaise is embracing culture with open-air touring festivals throughout the summer. Blending sport, nature, and culture, the mountains are reinventing themselves to win over summer tourists.
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Global Tourism: France on Track for a New Record
In 2025, France is expected to surpass 100 million international tourists for the first time, closely followed by Spain. During the summer period (June to August), foreign visitor arrivals in France are projected to rise by 4.7%, driven by the post-2024 Olympics effect and strong cultural appeal (including the reopening of Notre-Dame de Paris and D-Day commemorations). In the first five months of the year alone, international tourists have already spent €21.4 billion in France—an 8% increase compared to 2024. Buoyed by these trends, the French government has set an ambitious new target: to reach €100 billion in tourism revenue by 2030, in order to strengthen the country’s position as a global leader in the sector.
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Mountain Tourism: Occupancy Rate Nears 50% This Summer
French mountain resorts are experiencing a slight upturn in the 2025 summer season. According to the latest data available at the end of June, the average occupancy rate for tourist accommodation in mountain areas stands at nearly 50%, an improvement on the previous summer. This positive trend reflects a renewed interest among the French in open-air holidays, seeking cooler temperatures and outdoor activities during summer heatwaves. Despite a slow start to the season along the coast, the mountains have established themselves as France’s second most popular summer destination, just behind the seaside, with encouraging prospects for August.
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Property Market: Towards a Gradual Recovery in France
After the slowdown of 2024, several indicators turned positive for the residential property market in July 2025. Mortgage rates have stabilised at around 3.0% on average (20-year fixed rate) and appear to have plateaued. Notably, the average required personal deposit has decreased by 5.8% in the first half of the year – the first such drop since 2015 – easing access to homeownership for first-time buyers. On the price front, the market is showing overall stability, with slight local increases (for example, a 3% rise over three months for flats in the Île-de-France region). Most significantly, transactions are picking up again: major cities such as Lyon, Nantes and Strasbourg are seeing a rebound in sales this summer. With still-manageable interest rates, public support (including an expanded interest-free loan scheme), and renewed household confidence, all the conditions seem to be in place for a gentle recovery of the French property market.
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REITs: Promising Outlook for Property Funds
Fundraising and returns for SCPI (French real estate investment trusts) are on the rise again in 2025, and analysts remain optimistic about the outlook. According to a recent study, French SCPIs demonstrate remarkable agility, making them more competitive than their European counterparts, thanks to diversified investment strategies and a valuation method that shields them from market volatility. Following the confidence crisis of 2022–2023, many SCPIs have shown strong resilience — with the newest vehicles delivering outstanding performances and attracting fresh investors. Managers have also ramped up the internationalisation of their portfolios: 80% of acquisitions now take place outside France, compared to just 20% a decade ago. This opens access to more dynamic markets and favourable foreign tax regimes. All these factors point to sustained growth for this type of investment in the coming years, benefiting savers seeking regular income.
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Interest Rates: The ECB Takes a Welcome Pause in July
Good news for borrowers: on 24 July 2025, the European Central Bank decided to keep its key interest rates unchanged. The main deposit rate remains at 2.00%, a neutral level reached after several cuts in the first half of the year. The ECB notes that inflation in the eurozone has returned to around 2% — its medium-term target — and that price pressures have eased, justifying this monetary pause. Stable rates should help support the European economy — which has proven resilient despite a challenging global context — and provide greater clarity for those planning future projects. For the property and tourism sectors, this financial breather is already translating into more favourable financing conditions for upcoming investments. Analysts even suggest that, if inflation remains under control, further rate cuts could follow in 2025, further boosting confidence across the board.
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Record Start to the Summer Season in the Swiss Alps
After an already exceptional winter, mountain tourism is gaining further momentum. Swiss ski lift operators recorded a 24% increase in entries in May–June compared to 2024. Stable, sunny weather encouraged day trips, in stark contrast to last spring’s rainy conditions. All Swiss Alpine regions are benefiting from this positive trend: the Vaud and Fribourg Alps lead the way (+50% in first entries), followed by Eastern Switzerland (+29%), and both Valais and Graubünden (+26% each). Buoyed by these figures, operators are returning to the positive trajectory seen last winter — the best in a decade — and are reinforcing the development of year-round mountain destinations.
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Hotel Investment Regains Investor Confidence
According to the *Hotel Investor Compass 2025* barometer by Cushman & Wakefield, financial players remain firmly optimistic about the European hotel sector. 94% of surveyed investors plan to allocate the same or more capital to hospitality in 2025 compared to 2024. Properties meeting ESG (sustainability) criteria benefit from a valuation premium estimated at +4.8%. Spain, Italy, and France remain the top target markets, with France still in the leading trio despite a slight dip in perception. Paris continues to rank among Europe’s most attractive cities for hotel investment, while the French Riviera retains its strong tourist appeal. This survey, conducted among 62 major funds and investors, confirms the sector’s resilience and growth potential in the post-pandemic era, with hotel values in France expected to rise moderately by 1.3% over the year.
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Date de première publication : 4 August 2025

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