For a comprehensive review of the Europe market, click below:
HVS In-Depth Europe Hotel Valuation Index:   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. It hosts 38 international institutions, organisations and bodies, including the United Nations, the World Health Organisation and the International Committee of the Red Cross, alongside 750 non-governmental organisations and the permanent missions of 180 member states. Geneva itself has a population of 207,000 (2023), while the wider Geneva Canton is home to more than 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 such, Geneva’s tourism demand is predominantly driven by its banking sector, international organisations, multinational headquarters and numerous trade fairs and conventions, many of which are hosted at Palexpo, the city’s largest convention centre. 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. However, between 2017 and 2019, the market experienced a modest increase in demand alongside minimal growth in supply, achieving a marketwide average occupancy in the low-70% range. 2020 and 2021 posed significant challenges for Geneva's conference and events market, with only a few scheduled events proceeding as planned. Notably, major events such as the Geneva International Motor Show and the Geneva Supercross were cancelled in both years. From 2022 and into 2023, Geneva resumed hosting events as Switzerland lifted all travel and social distancing restrictions, driving a recovery in the city’s events sector. This enabled hotels in the city to close the gap on historical occupancy levels, though average rates remained comparable to pre-pandemic figures, resulting in real-term losses compared to 2019. Demand further recovered in 2024, but the strengthening of the Swiss franc against the euro and other major international currencies and the uncertainty surrounding the return of a major event – the International Motor Show – resulted in an unexpected decline in average rates. Consequently, RevPAR remained approximately 15% below 2019 levels in real terms. The wider Geneva area experienced a 20% increase in room supply between 2019 and 2024, with approximately 60% of the new inventory situated in the city’s outskirts or near the airport. While demand has almost matched this growth – reflecting a healthy market – it also helps explain why average rates remain below 2019 levels in real terms.

Looking ahead, the market is closely monitoring the actions of the new US administration, especially given the importance of US involvement and funding in key international organisations based in Geneva. The US withdrawal from the World Health Organisation in January 2025, along with other aid funding cuts under the new administration, has already affected some of these organisations. Geneva hotels are closely tracking this, given their heavy reliance on demand from these sectors.

Hotel supply for the city and Canton of Geneva has remained steady in recent years, with minor variations related to renovation works and the reorganisation of some hotels’ inventories. As of Q1 2025, Geneva hosts 97 hotels offering some 8,100 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 currently two planned additions to supply: a 104-unit Room Mate (marking the brand’s entry into the country) and a 25-room property on rue Arnold Winkelried, both scheduled for early 2026. Geneva is set to welcome the return of the Le Richemond hotel in the coming years, likely under the Jumeirah brand, following an extensive renovation programme led by Dubai Holding.

Geneva’s hotel market remains relatively illiquid, primarily due to a limited number of sellers, resulting in minimal transactional activity in recent years. In 2021, we are aware of three hotels that transacted: the ibis Styles Geneva Gare and the ibis Styles Geneva Mont Blanc (undisclosed transaction prices) as well as the Hotel des Alpes (28 units at a sales price of SFr11 million). In 2022, Geneva recorded the transaction of the 412-room Fairmont Grand Hotel Geneva for an undisclosed price. Transaction activity in 2023 included the sale of the 109-room Le Richemond in February (price undisclosed) and the 57-room Hotel Suisse in December for SFr30 million, equating to SFr520,000 per room. In 2024, we are only aware of the recently opened, 84-room Stay KooooK Genf City sold in November for an undisclosed price.

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 1.1% in euro terms but decreased by 0.4% in Swiss francs compared to 2023, as reported in our European Hotel Valuation Index 2025.

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 2078787722 (w) +44 0 7725781037 (m)
	Tabitha Watkins Analyst [email protected] +44 0 2078787724 (w) +44 0 7562956921 (m)
	Margherita Rivetti [email protected] +44 0 278787754 (w) +44 0 7955271797 (m)