The French hotel industry confirms its resilience. According to RYDGE Conseil’s 49th annual study, hotel investments reached a record 3 billion euros in 2025, while attendance continued to rise in 2026.
The study relies on data from more than 3,100 hotels, representing 251,500 rooms, or nearly 42 % of the certified French hotel stock, excluding palaces.
In 2025, France welcomed 102 million international visitors and recorded €77.5 billion in international tourism receipts, up 9% year on year. By the end of July 2026, hotel bed-nights rose by 2%, to nearly 126 million. RYDGE Conseil anticipates more than €80 billion of international tourism receipts for the full year.
Performance remains varied by category. In 2025, average prices for five-star hotels rose by 3% in the standard segment and by 13.7% in the upper segment. Conversely, those of one-, two- and four-star hotels declined by 0.5% to 1.8%. By the end of July 2026, RevPAR advanced by 3.3% year on year, while the occupancy rate gained 0.9 point.
Regional disparities also persist: Brittany and the Northern Alps posted rising performances, while the Gironde suffered a marked decline in summer attendance, notably due to fires and their impact on travel and bookings.
The study relies on data from more than 3,100 hotels, representing 251,500 rooms, or nearly 42 % of the certified French hotel stock, excluding palaces.
In 2025, France welcomed 102 million international visitors and recorded €77.5 billion in international tourism receipts, up 9% year on year. By the end of July 2026, hotel bed-nights rose by 2%, to nearly 126 million. RYDGE Conseil anticipates more than €80 billion of international tourism receipts for the full year.
Performance remains varied by category. In 2025, average prices for five-star hotels rose by 3% in the standard segment and by 13.7% in the upper segment. Conversely, those of one-, two- and four-star hotels declined by 0.5% to 1.8%. By the end of July 2026, RevPAR advanced by 3.3% year on year, while the occupancy rate gained 0.9 point.
Regional disparities also persist: Brittany and the Northern Alps posted rising performances, while the Gironde suffered a marked decline in summer attendance, notably due to fires and their impact on travel and bookings.
L’investissement hôtelier atteint un niveau record
With €3 billion in transactions in 2025, i.e. 44% above the ten-year average, French hotel investment reached a record level. France ranks third in Europe, behind the United Kingdom and Spain.
The momentum continued in the first half of 2026, with nearly €1.3 billion in transactions, up 40% year on year.
Despite economic and geopolitical uncertainties, investors are notably favoring upscale hotels and leisure destinations, particularly major cities and coastal areas.
Concurrently, 14,500 hotel rooms are planned by 2030, with nearly 25% in Greater Paris. Development and takeover operations contribute to upgrading the hotel stock.
For 2026-2027, repositioning strategies and opportunistic acquisitions remain preferred. Regulatory and tax developments, especially those concerning business transfers, could also influence investment decisions.
The momentum continued in the first half of 2026, with nearly €1.3 billion in transactions, up 40% year on year.
Despite economic and geopolitical uncertainties, investors are notably favoring upscale hotels and leisure destinations, particularly major cities and coastal areas.
Concurrently, 14,500 hotel rooms are planned by 2030, with nearly 25% in Greater Paris. Development and takeover operations contribute to upgrading the hotel stock.
For 2026-2027, repositioning strategies and opportunistic acquisitions remain preferred. Regulatory and tax developments, especially those concerning business transfers, could also influence investment decisions.
La marque hôtelière, un actif à part entière
Another finding from the study: the brand is taking an increasing role in the development and value strategies of hotel operators. Beyond its commercial function, it can constitute an autonomous economic asset when it rests on a structured network, a loyal clientele, distribution tools and recurring revenues.
This evolution concerns both groups and independent operators. The development of networks can rely on different models, combining ownership, management contracts and franchising.
The valuation of a brand depends notably on its notoriety, the loyalty of its customers and its ability to reproduce a concept across several establishments. For RYDGE Conseil, this structuring allows the value of the brand to be progressively distinguished from that of the operated real estate assets.
This evolution concerns both groups and independent operators. The development of networks can rely on different models, combining ownership, management contracts and franchising.
The valuation of a brand depends notably on its notoriety, the loyalty of its customers and its ability to reproduce a concept across several establishments. For RYDGE Conseil, this structuring allows the value of the brand to be progressively distinguished from that of the operated real estate assets.
La restauration devient un levier de valorisation
The Food & Beverage (F&B), which includes dining and bar activities, now accounts for more than 25% of the turnover of three- to five-star hotels. In some establishments, this contribution can exceed 50%.
Dining is therefore no longer just a service for housed guests. It contributes to the hotel’s positioning, attracts external clientele, and can help improve its economic performance.
To harness this potential, owners increasingly hire specialists capable of developing restaurant concepts tailored to the establishment’s identity. The success of these projects relies on a controlled business model, a differentiated offering and coherence with the overall hotel positioning.
Other services, such as sports and wellness, are also integrated into some projects. Their development, however, depends on real estate and operational constraints, notably available space and required investments.
Dining is therefore no longer just a service for housed guests. It contributes to the hotel’s positioning, attracts external clientele, and can help improve its economic performance.
To harness this potential, owners increasingly hire specialists capable of developing restaurant concepts tailored to the establishment’s identity. The success of these projects relies on a controlled business model, a differentiated offering and coherence with the overall hotel positioning.
Other services, such as sports and wellness, are also integrated into some projects. Their development, however, depends on real estate and operational constraints, notably available space and required investments.
Quatre tendances qui transforment l’offre hôtelière
RYDGE Conseil identifies four trends shaping the French tourism and hotel offering: agr i-tourism, the upgrading of coastlines, the integration of sport and well-being, as well as the development of hotels that rely on experience and brand identity. These evolutions affect all segments, from luxury to new-generation inns.
In 2025, the “Hybrid’ho(tels)”, which bring together new-generation youth hostels and economical hybrid hotels, counted nearly 70 establishments and 16,000 beds in France. Their capacity has more than doubled since 2020, with more than 3,000 additional beds expected between 2026 and 2028. The average occupancy rate reached 80% in Paris and 66% in the regions.
The four-star urban tourist residences recorded an occupancy rate of 75.1% in 2025, up four percentage points year on year. With an average price up by 3%, their RevPAR rose by 9%.
Finally, French palaces posted an average occupancy rate of 57.5% and an average price of €1,803 excluding tax. The Riviera registered the strongest annual price increase (+14.7%), ahead of Courchevel (+10%), while Paris began to normalize prices.
In 2025, the “Hybrid’ho(tels)”, which bring together new-generation youth hostels and economical hybrid hotels, counted nearly 70 establishments and 16,000 beds in France. Their capacity has more than doubled since 2020, with more than 3,000 additional beds expected between 2026 and 2028. The average occupancy rate reached 80% in Paris and 66% in the regions.
The four-star urban tourist residences recorded an occupancy rate of 75.1% in 2025, up four percentage points year on year. With an average price up by 3%, their RevPAR rose by 9%.
Finally, French palaces posted an average occupancy rate of 57.5% and an average price of €1,803 excluding tax. The Riviera registered the strongest annual price increase (+14.7%), ahead of Courchevel (+10%), while Paris began to normalize prices.
