European hotel brands show signs of resilience in the first quarter of 2026, driven by strong search dynamics in key Western markets. However, UBS reports that tensions in the Middle East could pose a risk to April volumes.
In a note published this morning, UBS announced that the research interest for hotel brands, an indicator correlated with Revenue Per Available Room (RevPAR), increased in March 2026 in the United States, the United Kingdom, France, and Germany compared to 2025. The broker relies on the frequency and evolution of Google searches in the studied markets to understand consumer sentiment towards certain hotel brands.
UBS analysts confirm their positive view on companies offering strong visibility or a robust portfolio dynamic.
Whitbread (Buy): The group remains the broker’s favorite in the UK thanks to its Premier Inn brand, which tops the research interest rankings. Although searches have slightly declined sequentially, they remain at high levels, and the group shows a 3% growth in RevPAR in the last published quarter.
Accor (Buy): The French giant benefits from a solid momentum for its Ibis family of brands, with March research interest higher than 2025 levels in France and Germany. However, UBS notes a relative weakness for the Mercure and Novotel brands, which show year-over-year and month-over-month decreases in searches.
InterContinental Hotels Group (Neutral): The analyst takes a more cautious stance on IHG. While the luxury InterContinental brand maintains good scores in the United States, the interest in Crowne Plaza and Holiday Inn brands remains generally below previous years’ levels, especially in the UK.
Despite these encouraging signals in March, the broker warns that the conflict in the Middle East is expected to impact April search statistics.
