Hotel Barometer No. 73 – 15 October 2026
EXTENDAM’s European hotel industry tracking indicator
EXTENDAM’s October 2026 hotel barometer confirms the sector’s positive momentum. In September, RevPAR* rose by 7.5% in Europe and 8.1% in France. Paris stood out in particular (+11.2%), driven by a packed events calendar and the return of business travel.
Download the full hotel barometer (PDF)
Key figures from the hotel barometer
- +7.5%: RevPAR* in Europe in September 2026 vs 2025, including France
- +8.1%: RevPAR* in France in September 2026 vs 2025
- 111 hotel transactions in France since the start of 2026, compared with 85 in 2025
- €1.9bn invested in French hotels over the first nine months of 2026
According to this hotel barometer, the outlook for October remains favourable. Bookings are slightly ahead of last year and traveller flows continue to grow.
On the investment side, the French market has recorded €1.9bn committed since January, a level close to 2025 (-2%). Transactions are more numerous but involve smaller assets. Meanwhile, the development of new hotel capacity is slowing in Europe while demand remains strong, which supports the sector’s medium-term outlook.
The EXTENDAM portfolio versus the market
With more than 400 hotels acquired (mainly property and operating businesses), EXTENDAM is the leading pure-player hotel investor in Europe. The indicator is based on a representative sample and draws on operating data from the portfolio’s hotels, data from our partners and market analyses.
September 2026: a particularly dynamic back-to-business season
In Europe (excluding France), occupancy reached 81.7%, up 1.1 points year on year. Combined with a 5.5% increase in average daily rates, this brought RevPAR* to €126.8 (+7.0%). The recovery in business travel and several major events supported activity.
In France, RevPAR* reached €113, up 8.1% year on year. Occupancy rose by 1.8 points to 76.6%, and average daily rates increased by 5.6% to €147.6.
In Paris, RevPAR* stood at €245.8 (+11.2%). The capital hosted Céline Dion’s eight concerts at the Plénitude Arena, while IFTM, Retail’s Big Show Europe and the start of Fashion Week also punctuated the season. Greater Paris followed the same trend, with RevPAR* up 10.0%.
In the French regions, RevPAR* reached €90 (+5.9%). Performance was positive across the country, and particularly strong in Provence-Alpes-Côte d’Azur (+10.1%), Grand Est (+10.0%) and Brittany (+8.2%). Rising average daily rates remained the main driver.
RevPAR* focus: EXTENDAM hotels vs benchmark
- Paris / Greater Paris: €134.2 for EXTENDAM hotels (+15.1% year on year), compared with €156.9 for the benchmark (+10.6%)
- French regions: €87.9 for EXTENDAM hotels (+5.9%), compared with €89.9 for the benchmark (+5.9%)
- Europe (excluding France): €117.8 for EXTENDAM hotels (+6.1%), compared with €126.8 for the benchmark (+7.0%)
Hotel performance in Europe and France
In this hotel barometer, MKG data show that the European hotel market (including France) continued its positive trend in September 2026. Occupancy reached 79.2% (+1.4 points) and the average daily rate €151.6 (+5.6%), bringing RevPAR* to €120, up 7.5%.
Growth was widely shared across Europe. Spain (+11.0%), Germany (+8.7%) and Belgium (+6.7%) posted the strongest RevPAR* increases. In Germany, the Automechanika trade fair brought together more than 112,000 trade visitors in Frankfurt, and Berlin hosted IFA, InnoTrans and its marathon. In Spain, the Madrid Formula 1 Grand Prix attracted nearly 353,000 spectators.
In the French regions, RevPAR* reached €90 (+5.9%), driven mainly by average daily rates (+4.4% to €121.8). Occupancy also rose, more modestly (+1.0 point to 73.9%).
In Île-de-France, RevPAR* rose by 10.6% to €156.9, supported by both occupancy (+3.2 points to 81.7%) and average daily rates (+6.3% to €191.9).
Booking pipeline for the next three months
The hotel barometer also tracks upcoming bookings. Led by Île-de-France (62%), the French hotel industry entered October with 45% occupancy on the books, a good level slightly above last year at the same time (+1 point).
In September, new bookings strengthened October’s pipeline, with increases of +16 points in all regions (North-West, North-East, South-West and South-East) and +23 points in Île-de-France.
Hotel occupancy by country
In Europe (excluding France), occupancy reached 82% in September, up 1.1 points year on year. Italy recorded the highest level (86%), ahead of Portugal (84.9%) and Spain (84.5%). France rose by 1.8 points to 76.6%, as did Germany, to 78.3%. Only Portugal (-0.1 point) and the United Kingdom (-1.0 point) declined slightly year on year.
The full barometer also includes D-EDGE bookings, E-Axess Paris outlook, SNCF and Flightradar24 traffic, BNP Paribas Real Estate hotel investment data and the Natixis hotel pipeline.
Characteristics of the hotels in the EXTENDAM sample
EXTENDAM’s hotel investment strategy is based on precise criteria.
Secure, strategic locations. EXTENDAM focuses on acquiring the property and operating businesses of existing hotels. These hotels capture the main business travel flows: city centres, the outskirts of major cities, and areas close to railway stations and airports.
Midscale and upscale positioning. This segment meets a dual demand: business travellers on regular trips and leisure guests looking for comfort and services. These hotels therefore benefit from a mixed clientele, both domestic and international.
Hotels with 50 to 200 rooms. They welcome on average one person per room for one to two nights. Below 50 rooms, a hotel struggles to absorb its operating costs. Above 200 rooms, other challenges arise, such as hosting large groups, and these hotels often depend on local activity (trade fairs and seminars) or MICE.
Thanks to our partners: MKG Consulting, D-EDGE, E-Axess-Spot Pilot, SNCF Voyages, Flightradar24, BNP Paribas Real Estate and Natixis.
*RevPAR (Revenue Per Available Room): average revenue per available room over a given period. Occupancy calculated on the number of rooms actually available for sale. Sources: EXTENDAM, MKG Consulting – 15/10/2026.
