After a slight setback in 2024, the Summer 2025 season returned to growth and even surpassed pre-pandemic highs. All accommodation categories benefited, driven by the comeback of French travelers and ongoing momentum from international guests.
Summary: From May to August 2025, tourist overnight stays in France rose by +3.7% versus 2024, adding 9.1 million nights to reach 257.8 million total nights — a new peak, above the 2023 record (insee.fr). The upswing benefited all accommodation types, with a marked rebound in hotels (+4.4% nights) and campgrounds. International visitors returned in force—European guests in campgrounds, and long-haul travelers (notably from the US) in hotels (insee.fr). At the same time, French clientele came back after the post-2022 lull (insee.fr). Coasts, mountains, and cities all saw gains, supporting higher accommodation revenue through both volume and rate growth.
Why it matters: Record summer numbers confirm France’s renewed appeal and the sector’s sustained momentum as a driver of economic growth. For investors and operators, the rebound in both domestic and international demand is a strong signal to move ahead with new projects (accommodation, infrastructure). The return of high-end foreign clientele (e.g., US tourists) is especially supportive for the upper market and future revenue outlook.
“Accommodation attendance… thus exceeds the historical levels of the Summer 2023 season” (Insee Focus, insee.fr).
Powered by an influx of foreign visitors, Swiss hotels kept posting higher figures through Summer 2025. Barring surprises, the current year should surpass the previous record of 43 million overnight stays set in 2024.
Summary: According to the Federal Statistical Office, Swiss hotels recorded 5.0 million overnight stays in August 2025, up +3.2% year-on-year (allnews.ch). The trend was already positive in June (+1.8%) and July (+2.7%). Foreign visitors drove growth, totaling 2.8 million nights in August (+5%), led by gains from Germany and the United States (+5% and +8%, respectively) (allnews.ch). For the summer as a whole (June–August), Swiss hotel nights rose +2.6%. Over the first eight months of 2025, the total reached 30.3 million nights (+1.9% vs 2024) (allnews.ch). The industry is therefore on course to top last year’s 43-million record (agefi.com). Notably, Chinese clientele are returning (+20% nights in August), though still below pre-Covid levels (allnews.ch). On destinations, several urban regions had a summer boom (Fribourg +11%, Basel +10%, Zurich +6%), offsetting a slight dip in Eastern Switzerland (allnews.ch).
Why it matters: The exceptional health of Swiss hospitality confirms a solid post-pandemic recovery, especially thanks to high-contribution foreign markets. A new annual record in sight is a confidence booster for tourism investors in Switzerland. It validates strategies to expand capacity or renovate properties, and encourages continued project development in the mountains ahead of winter. The diversification of source markets (return of Americans and Asian markets) also suggests less reliance on domestic demand alone—a recipe for future resilience.
“The industry is on track to set a new annual record, after nearly 43 million overnight stays in 2024” (Agefi, agefi.com).
Despite a less buoyant global economic backdrop, the coming winter season in Switzerland is expected to be slightly better than the last. According to BAK Economics, foreign demand should remain solid and deliver modest growth in winter overnight stays.
Summary: The latest tourism forecasts from BAK Economics call for about +0.9% growth in hotel nights in Winter 2025/2026 versus 2024 (agefi.com). That would represent roughly +161,000 additional nights over the season compared with last year. The expected growth is modest because Winter 2024/25 benefited from exceptional conditions (notably very favorable early-season weather) that are unlikely to repeat (agefi.com). In addition, the global economic slowdown and trade tensions (such as US tariff policy) could slightly dampen momentum (agefi.com). Nevertheless, international demand remains strong, particularly in nearby European markets. With these tailwinds, Winter 2025/26 should still marginally surpass last year’s excellent results, further consolidating the mountain sector’s recovery.
Why it matters: Cautious though they are, these positive forecasts illustrate the resilience of Swiss alpine tourism to economic headwinds. For industry players, a stable or slightly growing winter ensures continuity of revenues and justifies maintaining investments (renovations, upscaling) undertaken in recent years. The robustness of foreign demand—key in high season—is an encouraging sign that could offset potential soft patches in local demand. In short, these expectations support a measured confidence heading into winter and encourage fine-tuning offers to attract loyal international guests.
“Hotel overnight stays are expected to increase by 0.9% year-on-year” (Agefi/BAK Economics, agefi.com).
French tourism-residence specialist Pierre & Vacances is heading into Switzerland. Through a strategic partnership with Swisspeak Resorts, it will launch a new premium brand from 2026, combining local know-how with international commercial firepower.
Summary: Pierre & Vacances (P&V) will open four premium tourist residences in Switzerland in 2026 via a joint venture with operator Swisspeak Resorts (lechotouristique.com). The alliance creates a new shared brand, “Swisspeak Resorts by Pierre & Vacances,” offering from April 2026 338 high-end apartments across four emblematic Alpine sites (Zinal, Vercorin, Thyon 4 Vallées, and Meiringen) (lechotouristique.com). The offer positions itself as a “new generation of Alpine hospitality,” combining upscale apartment comfort with the services today’s travelers expect (lechotouristique.com). Operated under franchise, the residences will be open year-round, reflecting P&V’s ambition to win over new European clientele and strengthen its mountain footprint. With this move, the group will list 70 addresses in the Alps and Andorra, totaling 20,000+ beds at altitude (lechotouristique.com).
Why it matters: P&V’s push into Switzerland illustrates cross-border consolidation in alpine tourism. The arrival of a major French player validates investment potential in the Swiss Alps, particularly in the premium segment. For investors, the partnership model (P&V’s brand recognition and international distribution plus Swisspeak’s local roots and on-the-ground expertise) is a textbook example of synergy. Year-round operation helps smooth revenues beyond ski season, addressing the need to extend the mountain tourism window. The project also boosts the Swiss Alps’ overall appeal through a modernized offer and expanded bed capacity.
These four residences embody a new generation of Alpine hospitality… combining the comfort of high-end apartments with the services today’s travelers expect” (Pierre & Vacances, lechotouristique.com).
Lifestyle hotel brand Mama Shelter (Accor/Ennismore) is gaining altitude. It has announced the late-2027 opening of its first mountain resort in Val Thorens, betting on a novel all-inclusive format to shake up alpine tourism.
Summary: Mama Shelter will open its first ski-resort hotel—and the highest in Europe—in Val Thorens (2,300 m) by late 2027 (lechotouristique.com). The property will feature 148 rooms (350 beds), an 800 m² panoramic restaurant, pool, spa, gym, cinema, kids club, etc., positioning itself as a full-fledged “festive resort” (lechotouristique.com). Crucially, Mama Shelter is innovating with its first-ever all-inclusive package for 4- to 6-night stays—new territory for a brand usually focused on short urban breaks (lechotouristique.com). The aim is to attract new mountain clientele without straying from Mama’s “cool and accessible” DNA. The project also marks strategic diversification: the brand is venturing beyond its traditional urban playground into Alpine destinations, a market where all-inclusive remains rare. Local stakeholders in Val Thorens welcome the arrival of this “joyful and uninhibited” brand, seen as complementary for the resort and a source of renewal—including in summer (year-round diversification).
Why it matters: Mama Shelter’s move signals the upmarket shift and creative momentum in mountain hospitality. Seeing a major international group invest at altitude with a bold concept (all-inclusive resort) is a positive sign, proving that alpine destinations attract attention beyond traditional players. For tourism investors, it opens the door to new business models in the mountains, with potential to lengthen stays and increase per-guest spend (thanks to integrated offers). Expect this kind of innovation to lift competitive intensity and nudge the entire sector to evolve (services, guest experience, non-ski offers)—ultimately benefiting mountain destinations themselves.
“One of the project’s major innovations is the introduction of an ‘all-inclusive’ formula… A first for the Mama Shelter brand” (lechotouristique.com).
Hotel-investment group Honotel, already active in asset management in Europe, is moving into the fast-growing “premium hostel” segment. With backing from Bpifrance and BNP Paribas, it plans to roll out in France a hybrid offer that blends hostel conviviality with hotel comfort.
Summary: Honotel has announced Glint Hostel & Suites, a new hybrid brand targeting around 20 properties in France and Europe by 2030 (lechotouristique.com). An initial portfolio of six hotels is already secured in major cities (Paris, Lyon, Nice, Bordeaux, Strasbourg, Toulouse), with openings staggered across 2026–2027 (lechotouristique.com). The concept combines the sociable spirit of hostels with the standards of a boutique hotel, offering flexible urban stays (bookable by room or by bed) aimed at both backpackers and budget-aware business travelers (lechotouristique.com). The project is financed in partnership with Bpifrance (via the France Investissement Tourisme 3 fund) and BNP Paribas Développement (lechotouristique.com), signaling strong institutional investor confidence in the segment. Glint will pursue an agile model: converting existing buildings (hotels due for renovation, vacant offices) into stylish, modular spaces. For Honotel, the positioning addresses rising demand for low-cost urban travel and shared accommodation, with attractive economics (lechotouristique.com).
Why it matters: Honotel’s move confirms the urban “hybrid” trend midway between a youth hostel and a classic hotel. The participation of major backers (including public bank Bpifrance) validates the segment’s profitability and growth potential. For tourism real-estate professionals, this is an appealing investment path: a model that upgrades existing assets to match the habits of Millennial and Gen Z travelers (community, digital, tight budgets). The rise of such hybrid stays also tracks the rebound in low-budget travel and the growth of collaborative tourism—two signals to weave into forward strategies.
“For Honotel, this is a positioning with strong economic potential” (L’Echo Touristique, lechotouristique.com).
This autumn, three strong signals stand out for tourism and hospitality:
Confirmed recovery and records: France enjoyed an exceptional Summer 2025, beating attendance records (insee.fr), while Switzerland is heading toward a historic hotel year (agefi.com). The post-pandemic dynamic is real, powered by the return of international clientele.
Investment and innovative concepts: New projects are emerging—from premium mountain residences (P&V/Swisspeak) to all-inclusive alpine resorts (Mama Shelter) and urban hybrid hotels (Honotel). These moves reflect renewed optimism and the sector’s capacity to innovate to capture new market segments.
Positive outlook with prudent stance: Swiss winter projections indicate modest growth (+0.9%) (agefi.com), reflecting an uncertain macro backdrop. Industry players remain cautiously confident. Still, steady demand (notably from abroad) and extended seasons (mountain resorts open into November, allnews.ch) point to adaptability that bodes well for what’s next.
Weak signals to watch: Shifts in traveler behavior (e.g., cooler destinations during heatwaves, off-peak September trips), the rise of sustainability in tourism offers (environmental expectations, “four-season” tourism), and financial innovation (new participatory investment forms, dedicated funds) that could accelerate certain projects. These emerging currents will shape tomorrow’s success stories in travel.
In short, tourism is regaining momentum and the ecosystem is innovating: now is the time to consider new projects and ride this positive wave.
HoliProject Switzerland is a consulting and transaction firm for hospitality players operating in France and Switzerland. We support investors and operators in successfully executing their hotel projects—from strategic advice to project management—turning market trends into concrete opportunities.
