MRH Switzerland AG, the hotel division of AEVIS VICTORIA SA, reported continued growth in the first half of 2026, even as the Swiss hotel market experienced a slight decline. The company's revenue rose by 1.0% to CHF 104.9 million, with a maintained high operating profitability. This performance underscores the resilience and qualitative strength of MRH's portfolio in a challenging environment.
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. For June 2026, estimates indicate a 2.2% decline in overnight stays, including a 4.6% drop in foreign demand. The Swiss hotel market is expected to post a decline of approximately 0.7% for the first half of 2026 as a whole. Despite this, 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 from CHF 633 in the prior year. Revenue per available room (RevPAR) rose by 3.2% to CHF 354, up from CHF 343. Occupancy remained virtually stable at 54.3% compared to 54.1% in H1 2025. The increase in RevPAR is primarily attributed to an improvement in the average rate rather than occupancy, demonstrating MRH's ability to create value through strategic positioning, pricing discipline, and quality offerings.
Revenue from accommodation rose to CHF 61.5 million, up from CHF 60.9 million in the first half of 2025. The Food & Beverage segment also grew, with revenue reaching CHF 38.0 million, compared to CHF 37.7 million in the previous year. 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 of 26.1% recorded in the first half of 2025. This stability is driven by an increase in the Food & Beverage margin to 16.6% from 15.1%, as well as effective control of administrative, energy, and operational expenses.
MRH Switzerland AG operates eleven hotels in premium destinations including Zurich, Interlaken, Bern, Crans Montana, Zermatt, Davos, Flims, and London. The portfolio comprises 1,180 rooms and generated 367,819 overnight stays annually. The chain employs 1,153 staff members. MRH is a wholly-owned subsidiary of AEVIS VICTORIA SA, which also holds interests in Swiss Medical Network Holding SA, Infracore SA, Swiss Hotel Properties SA, and NESCENS SA.
Looking ahead, MRH 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. The company continues 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.
This performance is particularly notable given the broader market trends, highlighting MRH's ability to outperform despite a challenging environment. For more information, visit AEVIS VICTORIA SA.
