Baverez Hotels Reports a 27.6% Decrease in Revenue for 2025
The hotel group Baverez Hotels recorded a revenue of 31.0 million euros as of December 31, 2025, down from 42.8 million euros a year earlier, according to a statement released on January 14. This 27.6% decrease is mainly due to the closure of Hotel Raphael for complete renovation.
Operational Performance of Active Establishments
The group currently operates two active establishments, Hotel Regina and Majestic Hotel-Spa, while Raphael remains closed for renovations. According to the statement, Hotel Regina achieved a revenue of 22.0 million euros, up 9.56% for the year, including 2.8 million euros from catering. Its occupancy rate reached 80.39% on December 31, 2025, up from 75.05% a year earlier. The average room price was set at 665.65 euros, compared to 656.82 euros in 2024, bringing the revenue per available room to 535.12 euros, the company indicates. Majestic Hotel-Spa also showed progress, with a revenue of 8.8 million euros, up 14.90% compared to 7.7 million euros recorded at the end of 2024. Its occupancy rate increased by 10.15 points to reach 74.26%, despite a slight decline in the average price to 510.63 euros from 527.20 euros the previous year. The revenue per room is established at 379.18 euros. Hotel Raphael, closed for renovation, only generated 190,000 euros from staff loan re-billings, the group specifies.
Group-wide Performance Metrics
Across the group, the occupancy rate for all available rooms was 78.14% on December 31, 2025, up from 67.92% the previous year, according to the statement. The average price excluding taxes slightly increased to 611.47 euros, from 610.03 euros at the end of 2024. The overall revenue per available room reached 477.78 euros excluding taxes, up from 414.36 euros recorded on December 31, 2024. According to the group, the fourth quarter of 2025 benefited from a very favorable post-Olympic Games 2024 effect, with significant attendance even during months traditionally considered as low season. The group emphasizes that the activity in the last quarter was very strong in terms of volume and occupancy, with average prices maintained at high levels. These performances were achieved despite recruitment challenges faced by the entire sector, which generated additional costs related to the use of temporary and extra staff for certain jobs, the company indicates.
Ongoing Renovations and Future Outlook
The complete renovation works of Hotel Raphael continue according to the initial plan, although construction contingencies have caused a slight shift in the schedule, according to the statement. At this stage, the anticipated delay is expected to be only a few months, the group specifies. Hotels Regina and Majestic continue their investment programs, including the modernization of technical building management systems and the optimization of the Wi-Fi network, to improve comfort and customer experience. Regarding the outlook, the company indicates that activity at the beginning of 2026 tends to stabilize towards a normal winter low season. The year 2026 will be a year of works and reopening for Hotel Raphael, and the revenue will therefore be primarily generated by Hotels Regina and Majestic, the group specifies. According to the statement, the international situation remains uncertain due to ongoing tensions in Ukraine and the Middle East, as well as various decisions by major foreign powers, which could potentially influence travel behaviors in the long term. However, no significant slowdown in bookings has been observed to date. The company's cash flow remains strong and covers all its commitments for the coming year, the company concludes.
