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

Geneva, Switzerland’s second most populated city after Zürich, is widely regarded as a global centre for international cooperation. As of 2026, it hosts 42 international institutions, organisations and bodies, including the United Nations, the World Health Organisation and the International Committee of the Red Cross, alongside 497 non-governmental organisations and the permanent missions of 185 UN member states. Geneva itself has a population of 212,000 (2026), while the wider Canton of Geneva is home to approximately 2.5 times that number.

Geneva's economy is predominantly driven by the service sector, with a strong presence of financial institutions, particularly private banks. The city is also recognised as a major hub for the luxury watchmaking industry, with numerous luxury brands headquartered there, as well as being home to major international research and development laboratories. Additionally, Geneva serves as Europe, Middle East and Africa (EMEA) headquarters of high-tech companies HP, Oracle, IBM Microelectronics, SUN Microsystems and Reuters.

As a result, approximately 70% of Geneva’s hotel demand stems from business-related activities, with half attributed to meetings, incentives, conferences and exhibitions (MICE) and the other half to international organisations. Only 30% of hotel demand can be defined as purely leisure.

Historically, Geneva's hotel market has struggled to effectively capture the leisure segment during weekends and holidays. In the years leading up to 2019, the market experienced a modest increase in demand which, alongside minimal supply growth, led the market to achieve an average occupancy in the low-70% range. Geneva's events market was heavily disrupted in 2020–2021, with the Motor Show and Supercross cancelled both years. Recovery began in 2022 as restrictions eased, but average rates stayed near pre-pandemic levels, implying real-term losses versus 2019. Demand strengthened further in 2024, though a stronger Swiss franc and uncertainty over the Motor Show's future kept RevPAR 15% below 2019 in real terms. Over the 2019-24 period, room supply across the wider Geneva area grew by approximately 20%, with roughly 60% of new inventory concentrated in the city's outskirts and near the airport. Demand growth broadly kept pace with this expansion, a sign of underlying market health, but the absorption of a significantly larger supply base (mostly in the midscale segment) has diluted average rates, contributing to the persistent gap to 2019 levels in real terms.

The Geneva International Motor Show was permanently discontinued after 2024 amid decreasing manufacturer interest and has relocated to Doha. Its smaller successor, autoXpérience Genève, launched at Palexpo in March 2025 and drew over 26,000 visitors by its second edition in March 2026, a fraction of the demand stimulus the Motor Show historically generated for the city's hotels.

The market also faces a more acute structural headwind from the USA’s ongoing retrenchment from international organisations. The USA formally initiated withdrawal from the World Health Organisation (Geneva-based) in January 2025, followed by the withdrawal from a further 66 international organisations and UN agencies in January 2026, including more than ten with offices in and around Geneva. Given that Geneva hotels rely heavily on demand from delegations, missions and staff affiliated with these bodies, the cumulative impact of these withdrawals represents a material and, as yet, unresolved downside risk to business travel demand. Full-year 2025 recorded a slight occupancy gain, driven predominantly by the first and fourth quarters, alongside a marginal decline in average rate in local currency terms, though rates edged upward in euro values. The net result was a 3% increase in RevPAR, though the market remains 13% below 2019 levels in real terms.

Hotel supply for the city and Canton of Geneva has remained broadly steady in the last two years, with minor variations related to renovation works and the reorganisation of some hotels’ inventories. As of Q1 2026, Geneva hosts 99 hotels offering some 8,000 rooms, a notable figure given the city's relatively small size. The market is geared towards the upper end of the spectrum, with four- and five-star hotels accounting for just under 60% of the total room inventory. Looking ahead, the hospitality landscape in Geneva is poised for modest growth, with two planned additions to supply: a 124-unit Room Mate (marking the brand’s entry into the country) and a 32-room property on rue Arnold Winkelried, respectively scheduled for early 2028 and late 2029. In addition to these, Geneva is set to welcome the return of Le Richemond under the Jumeirah brand following an extensive renovation by Dubai Holding, alongside the Fairmont Grand Hotel Geneva being developed by Victory Group in the former Kempinski. The Four Seasons Hotel des Bergues is also currently undergoing a substantial renovation programme.

Geneva's hotel market remains relatively illiquid, with a limited seller base constraining transactional activity in recent years. The 412-room Fairmont changed hands in 2022 for an undisclosed price. In 2023, the 109-room Le Richemond (undisclosed) and the 57-room Hotel Suisse at SFr30 million transacted. In November 2024, the 84-room Stay KooooK Genf City (undisclosed) sold, with the 48-room Hotel Eastwest by Malone transacting a month later for SFr18.6 million. Activity in 2025 was limited to a single forward purchase: a 50-key hotel under development at Route des Morillons 22, scheduled for delivery in 2027, for a reported SFr48 million.

The recent market performance, uncertainty around key international events and organisations and the Swiss franc’s appreciation led to mixed trends and meant that, overall, hotel values increased by 1.2% in euro terms but only increased by 0.3% in Swiss francs compared to 2024, as reported in 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)

Geneva RevPAR Change (€Euro)

Geneva 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)