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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

Zürich is Switzerland’s largest city, home to approximately 449,000 residents (2024) across an area of 87.8 km². The wider Zürich Metropolitan Area has a population of around 1.4 million. Located in northern Switzerland, the city serves as a major transportation hub with extensive rail and road networks, as well as Zürich Airport, Switzerland’s busiest international gateway. The airport is just a ten-minute train journey from Zürich Central Station, the country’s primary rail terminal.

Zürich is widely regarded as a global city and one of the world’s foremost financial centres. It hosts the headquarters of Switzerland’s leading banks, including UBS, as well as major insurance firms and international corporations such as Google. The city is also a hub for education and innovation, being home to renowned research institutions like ETH Zürich (Swiss Federal Institute of Technology).

While Zürich is primarily known as a business destination, its charming Old Town, luxury shopping and lakeside location make it equally attractive to leisure travellers, particularly for weekend visits. Although the city boasts a robust financial and corporate sector, its conference market remains relatively modest due to the absence of a large-scale convention centre. Most business events are hosted in hotels, university buildings or smaller venues, resulting in more niche, specialised gatherings. Nevertheless, Zürich continues to host several prestigious events such as the FIFA Ballon d’Or Gala, the Zurich Film Festival, Art Basel satellite events, and major leisure draws like the Street Parade, one of Europe’s largest electronic music festivals. In recent years, Zürich has increasingly welcomed leisure groups using the city as a base to explore the wider region. However, the strength of the Swiss franc continues to exert upward pressure on hotel pricing, making the destination relatively expensive for international visitors.

Prior to the pandemic, hotels in Zürich consistently recorded occupancy levels of percentages in the mid-70s, supported by strong average rates, although rate growth had begun to plateau. Demand in Zürich is driven by both domestic and international markets, with international travellers typically accounting for approximately 75% of all overnight stays. Following a sharp decline during the pandemic, international travel rebounded in 2023, bringing occupancy levels close to historical norms, thereby absorbing the new inventory which recorded a compound annual growth rate of a little over 2% between 2019 and 2024. This positive trend continued into 2024, with occupancy stabilising and average rates improving, resulting in a real RevPAR increase of 13% in local currency terms and 16% in euro over 2019, with the difference reflecting the combined impact of inflation and exchange rate movements. We note that in 2024, the city saw a significant tourism boost in the summer, driven by major events such as two Taylor Swift concerts.

Zürich’s hotel landscape includes a significant number of family-owned midscale and boutique properties. However, recent years have brought increased international brand presence, with new openings including Hyatt Place Zürich Airport The Circle, InterCityHotel Zürich Airport, Ruby Mimi Zürich, Adagio and the rebranded Marriott Autograph Collection (formerly the Sheraton). The Hyatt Regency Zürich Airport also joined the market, while the historic Savoy Baur en Ville reopened under the Mandarin Oriental brand in December 2023 following a major renovation. Future supply remains limited, with only a few projects in the pipeline – most located near the airport. A notable upcoming branded opening is Ennismore’s 178-room Mama Shelter Zürich, scheduled for July 2025.

The hotel transaction market in Zürich remains notably illiquid. Only one notable transaction was recorded in 2024: the sale of the 138-room Park Hyatt Zurich in April, for an undisclosed amount.

2024 Zürich hotel values increased by 1.2% in euro terms as reported in our 2025 European Hotel Valuation Index.

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For more information, please contact:

	Sophie Perret, MRICS, MBA Managing Director [email protected] +44 0 2078787722 (w) +44 0 7725781037 (m)
	Margherita Rivetti Consulting & Valuation Analyst [email protected] +44 0 278787754 (w) +44 0 7955271797 (m)
	Tabitha Watkins Analyst [email protected] +44 0 2078787724 (w) +44 0 7562956921 (m)