1.0Market Snapshot
- 3,071
- Hotels, inns and guesthouses in 2024 (BFS STATENT, NOGA 55.10.01–02). BFS does not count luxury hotels separately; the figure covers all categories. The number of hotels has fallen 20.6% since 2011 (3,866).
- 69,394
- Employees of all Swiss hotels in 2024 (BFS STATENT), 57,411 full-time equivalents. Employment is 2.5% above 2011 although there are a fifth fewer hotels, so the average hotel grew from 18 to 23 employees.
- +2.6%
- Growth in hotel overnight stays in 2025, to a third consecutive record of 43.9 million; foreign guests reached an all-time high of 22.8 million and net room occupancy rose to 56.8%, above the 2019 record (BFS, February 2026).
According to Val Index analysis of Swiss commercial-register and federal data (2026), Switzerland counts 3,071 luxury hospitality & chalets companies — Hotels, inns and guesthouses in 2024 (BFS STATENT, NOGA 55.10.01–02). BFS does not count luxury hotels separately; the figure covers all categories. The number of hotels has fallen 20.6% since 2011 (3,866)..
2.0Industry Overview
Switzerland's luxury hotels are the top tier of a hotel industry that is shrinking in numbers but growing in size. BFS counted 3,071 hotels with 69,394 employees in 2024 (STATENT), a fifth fewer hotels than in 2011 but slightly more staff, as small hotels close and larger ones expand. Demand is at a record: hotels recorded 43.9 million overnight stays in 2025 (+2.6%), the third record in a row, with foreign guests at an all-time high of 22.8 million, American guests up 5.4%, and net room occupancy at 56.8%, above the 2019 peak. Holiday flats, campsites and group accommodation added 18.1 million nights (+4.7%), for 62.0 million in total.
3.0Industry Health Check (SWOT)
- Record demand (43.9 million overnight stays in 2025)
- High personnel and property costs→ §5.0
- Room occupancy above the 2019 record (56.8%)
- Geopolitical shocks to travel
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Luxury Hospitality & Chalets business valuation in Switzerland
- Statutory Multiple (EBITDA)
- 4.0 - 6.5×
- Deal Multiple (EBITDA)
- 5.5 - 9.0×
- Market Trend
- Rising
Indicative ranges based on market research. Actual multiples vary by company size, growth, and market conditions.
8.0Regional Clusters
Western Switzerland
926 hotels with 19,165 employees in 2024 (BFS STATENT, all categories), the most of any region; Valais alone has 464 hotels.
Eastern Switzerland
744 hotels with 15,850 employees; Graubünden has 442 hotels with 11,119 employees, and Badrutt's Palace is registered in St. Moritz.
Bern and Solothurn
504 hotels with 10,730 employees; Gstaad Palace (Saanen) and Victoria-Jungfrau (Interlaken) are registered here.
Central Switzerland
347 hotels with 9,747 employees; Bürgenstock (Stansstad) and Andermatt Swiss Alps are registered here.
Ticino
212 hotels with 3,103 employees, the smallest on average (14.6 per hotel).
Zurich
189 hotels with 7,320 employees, the largest on average (38.7 per hotel); Dolder Hotel is registered in Zurich.
Northwestern Switzerland
139 hotels with 3,479 employees.
Sources
9.0Frequently Asked Questions
▶How much is a luxury hotel worth in Switzerland?
ValIndex's multiples table puts Swiss luxury hospitality at 5.5–9.0× EBITDA in transactions and 4.0–6.5× EBITDA on statutory valuations. Because the property is often worth more than the hotel business, buyers usually value the operation and the real estate separately.
▶What drives the value of a Swiss luxury hotel?
Buyers price: (1) location and the property; (2) brand and reputation; (3) room rates and occupancy; (4) renovation status and capital needs; (5) seasonality; (6) staff and management continuity.
▶How big is the Swiss hotel industry?
In 2024 BFS counted 3,071 hotels with 69,394 employees across all categories. Hotels recorded 43.9 million overnight stays in 2025, and holiday flats, campsites and group accommodation another 18.1 million.
▶Who owns the main Swiss luxury hotels?
Bürgenstock belongs to Qatar-backed Katara Hospitality; Andermatt Swiss Alps (with The Chedi) is chaired by Samih Sawiris; the Gstaad Palace has been owned by the Scherz family since 1947. Badrutt's Palace (St. Moritz), the Victoria-Jungfrau (Interlaken) and the Dolder Grand (Zurich) are run by their own hotel companies.
▶What are the key trends in Swiss luxury hospitality?
Five trends: (1) a third consecutive record in overnight stays; (2) fewer, larger hotels; (3) sovereign and investor capital; (4) large resort developments; (5) enduring family palaces.
▶What are the main risks when buying a Swiss luxury hotel?
The main risks are: (1) high capital needs for renovation; (2) seasonality; (3) staff shortages; (4) dependence on foreign guests and travel shocks; (5) separating hotel and property value. Due diligence should check the property, renovation plans, rates and occupancy, staff and the lease or ownership structure.
▶Is demand for Swiss hotels growing?
Yes. Overnight stays reached a third consecutive record of 43.9 million in 2025 (+2.6%), foreign guests reached 22.8 million and occupancy rose to 56.8%, above 2019.
▶Where are Swiss luxury hotels located?
Using BFS figures for 2024 for all hotels: Western Switzerland has the most (926, with 19,165 employees), followed by Eastern Switzerland (744; 15,850), Bern and Solothurn (504; 10,730), Central Switzerland (347; 9,747), Ticino (212; 3,103), Zurich (189; 7,320) and Northwestern Switzerland (139; 3,479).