For a comprehensive review of the Europe market, click below:
HVS In-Depth Europe Hotel Valuation Index:   2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001

Brussels holds a prominent position in Europe, thanks to its strategic political, economic and cultural significance. With a population of approximately 1.26 million as of 2026, the Belgian capital also serves as the administrative heart of the European Union, hosting key institutions such as the European Commission and the European Parliament. Often referred to as the ‘capital of Europe’, Brussels is also home to NATO headquarters, reinforcing its role as a vital hub for international diplomacy and policymaking.

Beyond its political and economic importance, Brussels boasts a rich cultural heritage and vibrant arts scene. Landmarks like the Atomium and the Grand Place continue to attract tourists from around the world. In recent years, the city has cultivated a strong creative community, with artists, architects and designers contributing to its dynamic cultural fabric. The city's cultural offer is set to expand materially with the opening of Kanal – Centre Pompidou, a major new cultural institution scheduled to open in November 2026. The project is expected to serve as a catalyst for the broader canal district and to reinforce Brussels' appeal as a leisure destination.

The city’s tourism sector was significantly affected by the terrorist attacks in March 2016. However, recovery began in 2017, initially driven by corporate demand. By 2018, the return of leisure tourism helped boost visitation by 10%. Brussels' hotel market performed well through to the onset of the pandemic in 2020, with occupancy running in the mid-70% range and a demand base firmly anchored in corporate and MICE activity. Post-pandemic, the corporate and MICE segments were slow to return, but 2022 and 2023 delivered robust average rate growth that exceeded 2019 levels in real terms. Performance over the next couple of years remained under pressure. Brussels' predominantly business-driven demand base continued to face structural headwinds through subdued midweek occupancy, a sluggish MICE recovery and the absorption of new supply, with leisure demand providing only partial offset through the summer festival calendar. The net result was a slight occupancy gain offset by a marginally greater decline in average rate, producing a 1% contraction in RevPAR and widening the gap to 2019 to 9% in real terms.

Looking ahead, the outlook for Brussels remains cautious. The increase in VAT on hotel services, raised from 6% to 12% in March 2026, represents the most immediate headwind, introducing upward pressure on room rates at a time when the market is still rebuilding its corporate and MICE demand base. The risk is a demand-dampening effect that limits operators' ability to pass the increase through to guests, resulting in margin compression rather than rate growth. Compounding this, rising operational costs, particularly payroll, continue to weigh on profitability across the market.

As of March 2026, Brussels offers a hotel inventory of 203 hotels and approximately 19,500 rooms. The pipeline comprises nine projects expected to add around 900 rooms over the next three to four years, with nearly half concentrated around Brussels Airport and Brussels Midi Station. Notable forthcoming openings include the 80-room Moxy Brussels Midi Station (mid 2027). The most significant ongoing renovation is the former Hotel Métropole, which is being repositioned as the 231-room Kimpton Metropole Brussels by Lone Star Funds and scheduled for opening in late 2026. Recent additions to supply include the 200-room The Standard Brussels World Trade Center (May 2025), the 532-room Cardo Brussels Autograph Collection following the extensive renovation of the former Sheraton (January 2024), and the 126-room Grand Hotel Astoria, reopened by Corinthia Hotels in December 2024 after an extensive restoration.

On the investment side, 2022 was a record year, with six hotel sales totalling €253 million. After a subdued activity in 2023 which saw only saw a couple of transactions, five transactions took place in 2024. In 2025, the most significant transaction was the 222-room Brussels Marriott Hotel Grand Place, acquired by LRO Hospitality, a joint venture between L+R Properties and Dutch pension fund PGGM from Archer Hotel Capital for €91 million, where HVS Hodges Ward Eliott acted as the exclusive advisor for the sellers. 2025 also saw the transaction of the 78-room Trademark Avenue Louise for €13.5 million in August, the 150-room Pestana Brussels Schuman for €35 million in July, the 136-room Hotel Marivaux in July for €25 million and the 107-room easyHotel Brussels City Centre in June (undisclosed price).

With corporate and governmental demand yet to fully return to pre-pandemic levels, continued absorption of new supply, rising operational costs and the VAT increase on hotels weighing on operator margins and forward sentiment, hotel values in Brussels posted a decrease of 2.9% in 2025, according to our 2026 European Hotel Valuation Index.

ADR, Demand, Occupancy, RevPAR, and Supply Projections:

ADR Change
Market Demand Change
Hotel Occupancy Increase/Decrease
RevPAR Change
Market Supply Growth

Change In Value For Market: (€Euro)

Brussels RevPAR Change (€Euro)

Brussels RevPAR (€Euro)

For more information, please contact:

	Sophie Perret, MRICS, MBA Managing Director [email protected] +44 0 7725781037 (m)
	Maxime Gauthier Senior Associate [email protected] +44 0 7593572865 (m)