Market Beat Italy - FY 2025
Italy posted the strongest RevPAR recovery in Europe at +53% since 2019, while hotel investment hit €2.5 billion across 110 transactions.
By Davide Barbaro and Francesco Calia
Opinion Articles
Market Beat Germany - FY 2025
German hotel investment reached €1.9 billion in 2025, up 50% year-over-year, while RevPAR declined slightly to €78.8 despite occupancy gains.
By Christine Mayer and Christine Folz
Marketbeat Greater Paris - FY 2025
Greater Paris hotel investment volume reached €1.9 billion in 2025 with 75 properties traded, while RevPAR held steady at €115.7.
The Silent Twilight of The Greek "Filoxenia"
Small Greek hotels face closure as operational costs rise 30% by 2026 and short-term rentals now exceed total hotel bed capacity.
By Philia Tounta, General Manager, Apokoros Club Hotel & Villas
Madrid Market Spotlight - FY 25
The comprehensive annual performance analysis shows strong profit growth driven by room revenue gains, despite rising labor costs and new hotel supply additions.
By Bruno Hallé and Albert Grau
Formentera Market Pulse - Premium Demand Within a Supply-Constrained Island
HVS analysis reveals Formentera captures Spain-leading hotel rates through scarcity-driven positioning, with RevPAR reaching €218 despite minimal supply growth.
London Market Spotlight - FY 25
London hotels maintained 46.8% GOP margin despite RevPAR declining 0.9% through efficient cost management and utility savings.
By Carl Ridgley and Andrew Horder
Marketbeat UK - H2 2025
UK hotel investment fell 23% to £4.9bn in 2025, with single-asset deals rising 37% while portfolio activity dropped due to financing constraints.
By Francesca Madden and Anastasia Cooper
Taormina Market Pulse 2026 - From the Grand Tour Heritage to a Global Luxury Destination
The report shows Taormina's hotel ADR exceeded €1,200 in 2025, up 80% since 2018, driven by luxury positioning and White Lotus exposure.
The state of France’s hotel market in 2025: Key trends, lessons and next steps
2024 was a big, unusual year for France’s hotel sector because of the Olympics. How are hotels faring now and what should independents do to stay ahead?
By Laure Cremers, Content Specialist, Lighthouse
Milan Hotel Market Spotlight YE JUL 2025
The sample of branded full-service hotels* in Milan recorded a slight increase in profit during the 12 months ending in July 2025, compared to the same period last year. GOP per Available Room (GOP PAR) rose by 0.9%, driven by a 0.2% increase in revenue and supported by a 0.2% decrease in expenses.
By Francesco Calia and Davide Barbaro
Hotel Market Beat 2025 H1 - Ireland
The Irish hotel investment market remained strong in the first half of 2025, with transactions totalling around €375 million. Major Dublin deals dominated activity, including the €86 million sale of the Ruby Molly Hotel by ESR Group to German investor Deka Immobilien, leased to Ruby Hotels Group. The Fleet Hotel was also acquired by the Lanthorn Group for TMR Hotel Collection. Beyond the city centre, the Grand Hotel in Malahide, the Marine Hotel in Sutton, and the Radisson Blu at Dublin Airport all changed hands. Activity outside Dublin was limited, with the standout being the €21 million sale of Clayton Whites Hotel in Wexford to the Neville Hotel Group.
By Ed Fitch and Tom McCabe
Dublin Hotel Market Spotlight YE August 2025
The sample of branded full-service hotels in Dublin recorded a slight decline in profit during the 12 months ending in August 2025, compared to the same period last year. GOP per Available Room (GOP PAR) decreased by 1.4%, due to a -1.0% drop in revenues while the cost declined by -0.8%.
By Ed Fitch and Tom McCabe
Manchester Hotel Market Spotlight YE August 2025
The sample of branded full-service hotels in Manchester recorded a GOP per available room (PAR) of £36.0 in the 12 months ending in August 2025. This represents a 13.4% drop compared to the same period last year, due to a 4.0% decline in revenue, which was only marginally offset by the lower expenses (-0.5%).
By Carl Ridgley and Ed Fitch
Prague Hotel Market Spotlight YE August 2025
The sample of branded full-service hotels in Prague recorded a healthy increase in profit during the 12 months ending in August 2025 compared to the same period last year. The GOP per available room (GOP PAR) rose by 6.0%, driven by a 6.3% increase in revenue, despite a 6.6% increase in expenses.
By Nicolas Horky and Alina Cazachevici
Island of Opportunity: Curaçao’s Tourism Transformation
Once economically reliant on petroleum refining, with additional support from financial services and tourism, Curaçao has seen tourism emerge as the cornerstone of its economy since the refinery’s closure in 2018. This shift has become even more apparent in the post-pandemic era. The island boasts dozens of white-sand beaches, vibrant reefs, and world-class snorkeling, as well as the historic capital of Willemstad, a UNESCO World Heritage Site known for its Dutch Colonial architecture. Willemstad’s growing art, shopping, and dining scene and the island’s natural assets, rising visitation, and sustained investment are positioning the country for continued growth as a premier Caribbean destination.
By Patrick B. Nau, Senior Associate at HVS, Tampa - St. Pete, HVS
Hotel Market Beat 2025 H1 - Germany
The German hotel investment market showed a remarkable increase in transaction volume in H1 2025 compared to H1 2024, nearly reaching the total annual volume of 2024. However, the market is still considerably behind the pre-COVID levels.
By Christine Mayer and Christine Folz
Hotel Market Beat 2025 H1 - Spain
The hotel investment market in Spain showed remarkable momentum and consolidation during the first half of 2025. With a total investment volume of €2.1 billion, the sector not only recovered to pre-pandemic levels but also recorded the third-highest first semester in history. Driven by robust demand and high-performing assets, the leisure sector regained its leadership, boosted by the record-breaking €430 million acquisition of the Mare Nostrum Resort in Tenerife. Domestic investors led the transactions, accounting for 66% of the volume. With a strong pipeline for H2 2025, the sector is on track. to surpass 3 billion mark, reinforcing Spain’s appeal to both domestic and international capital.
By Albert Grau and Bruno Hallé
Hotel Market Beat 2025 H1 - Italy
The Italian hotel investment market delivered a strong H1 2025, with transactions reaching nearly €1.7 billion, up 102% YoY. Rome and Venice led the activity, generating over €780 million (47% of the national volume), confirming their strategic appeal. Deals were mostly single-asset, focused on the Upper Upscale and Luxury segments. Notable transactions included the €170 million acquisition of the Mandarin Oriental in Rome (Villini Sallustiani). International investors drove 51% of total volume, with capital from Europe and the Americas. Despite cautious optimism, the market remains resilient, with a solid deal pipeline and sustained foreign interest expected to drive continued momentum in H2 2025.
By Davide Barbaro and Francesco Calia
It is time to develop new reflexes
France has a natural tendency towards romanticism, which is often a strength but can sometimes become a weakness. It is the world's leading tourist destination, with a hotel and tourism ecosystem that has never been as structured, inventive or powerful as it is today... and yet. And yet we like to make things more difficult, procedures more complex and decisions more opaque.
By Vanguélis Panayotis, CEO MKG Consulting & Hospitality ON / MRICS, Hospitality ON