Switzerland’s mountain hotels have closed the books on another record-breaking winter. From November 2025 through April 2026, Swiss hotels logged 18.7 million overnight stays — a 1.1% increase over last year’s already record-setting 18.5 million, according to provisional data released June 8 by the Swiss Federal Statistical Office (FSO). The result marks the best winter performance ever recorded for the Swiss hotel sector.
The 2025-26 winter adds 198,000 overnight stays to last year’s total — a more modest gain than the 2.8% jump recorded the previous season, but a record nonetheless. Foreign visitors contributed 9.3 million or nearly half of the overnight stays — the highest level since the 2007-08 winter season — while domestic demand rose more strongly at 1.6%, adding 152,000 overnight stays to reach 9.5 million. For the first time in recent seasons, Swiss domestic tourists slightly outnumbered foreign visitors in total overnight stays.
The season was, however, notably uneven month by month. December 2025 was the standout performer, with total overnight stays up 6.8% — foreign demand surging 7.5% in what was the strongest single month of the season. January and February both posted solid gains of 2.6% and 2.9% respectively. Then the picture changed sharply. March recorded a 5.2% decline and April fell 0.6%, driven largely by a significant contraction in Asian demand that the FSO attributes directly to the ongoing Middle East conflict.
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Swiss domestic visitors led all markets in absolute volume, with 4,789,334 arrivals and 9,484,919 overnight stays — up 1.64% in arrivals and 1.63% in nights from the previous year. Domestic tourism remains the backbone of the Swiss winter hotel sector, representing just over half of all overnight stays.
German visitors — historically the largest international market for Swiss winter tourism — recorded 729,868 arrivals and 1,702,642 overnight stays, up 2.53% in arrivals and 1.56% in nights. Germany posted the largest increase of any European country, adding 26,000 overnight stays year-on-year.
American visitors posted the strongest growth of the four major markets shown, with arrivals up 4.77% to 548,364 and overnight stays up 4.48% to 1,214,725. But the full Americas picture is even more striking: the American continent as a whole reached 1.8 million overnight stays — a new record — up 5.5% (+93,000). Within that, U.S. visitors alone contributed the largest absolute increase of any single foreign country, adding 52,000 overnight stays for a 4.5% gain. The FSO describes this as the United States’ best winter result in thirty years. Brazil (+17,000, +8.2%) and Canada (+9,400, +8.0%) also contributed meaningfully to the Americas record.
UK visitors grew steadily, with 360,608 arrivals and 830,267 overnight stays — up 1.57% in arrivals and 1.00% in nights, adding 18,000 overnight stays year-on-year. Among other European markets, Spain was the strongest performer by percentage growth at +7.3% (+17,000 overnight stays). France was the notable underperformer, declining 1.4% (-10,000), as did the Netherlands at -1.8% (-5,100).
The most significant negative development of the 2025-26 season was the collapse in Asian demand. Total overnight stays from Asia fell 10.1% (-155,000) to 1.4 million — a dramatic reversal from recent years of strong Asian growth. The FSO attributes the decline primarily to the effects of the Middle East conflict on travel patterns, with the steepest falls concentrated in March (-16.9%) and April (-28.4%).
India recorded the largest absolute decline of any foreign country, dropping 33,000 overnight stays (-15.8%). Gulf countries fell 26,000 (-9.6%) and South Korea 22,000 (-18.4%). China, which had been growing steadily in recent seasons, added just 900 overnight stays (+0.3%) — effectively flat. This is a sharp contrast to last year which saw China growing at 3.3%. Oceania, which surged 17.2% last season, did not fall but stayed relatively steady with a small 0.7% growth this year.
Several factors are likely contributing to the continued growth in American visitation. One of them is the increasing visibility of Swiss skiing through Vail Resorts’ European expansion. Since Andermatt-Sedrun joined the Epic Pass in 2022 and Crans-Montana followed in 2023, American skiers have had a more familiar entry point into Switzerland’s ski market.
In just three seasons, U.S. overnight stays in Swiss winter hotels have risen sharply — a cumulative increase of nearly a quarter. The growth is concentrated in the iconic destinations that American travelers know from film, fashion, and luxury travel: Zermatt, St. Moritz, Verbier, and Grindelwald. But Andermatt and Crans-Montana are increasingly featuring in American itineraries as Epic Pass holders explore beyond the Vail-owned resorts they can access on their passes.
10 of Switzerland’s 13 tourism regions recorded overnight stay increases during the 2025-26 winter. The standout performer was Ticino — Italian-speaking southern Switzerland — with a remarkable 7.2% increase (+49,000 overnight stays), suggesting growing interest in Switzerland’s less-frequented alpine regions. Urban centres also performed strongly: Zurich grew 1.6% (+51,000) and Geneva 2.5% (+42,000).
In the traditional ski regions, Grisons/Graubünden recorded flat overall demand (+0.1%) but strong growth in foreign visitors specifically (+57,000, +5.0%) — suggesting international skiers are finding their way to Davos, Klosters, St. Moritz, and Andermatt-Sedrun even as domestic visitors stayed closer to home. The Valais — home to Zermatt, Verbier, and Crans-Montana — grew more modestly at 0.7% (+15,000).
Two back-to-back record winters — 18.5 million stays in 2024-25 and 18.7 million in 2025-26 — confirm that Switzerland’s position as the world’s premium alpine winter destination is as strong as it has ever been. The growth is broad-based: Swiss domestic visitors, Germans, Americans, and British all contributed positively in 2025-26, even as Asian demand contracted sharply due to geopolitical factors outside the Swiss tourism industry’s control.
The more modest overall growth rate of 1.1% this season — down from 2.8% last year — reflects both the natural maturing of the post-COVID rebound and the significant drag from Asia. Two consecutive record winters suggest Switzerland’s position at the top of the global ski tourism market remains remarkably strong. Americans, Germans, Britons, and Swiss domestic travelers all continued to increase visitation in 2025-26. The biggest question heading into next winter is whether Asian demand returns with an end to the Iran war. If it does, Switzerland’s hotel sector could find itself chasing yet another record.
