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Europe’s hotel market is not short of demand. Tourist arrivals have rebounded, and occupancy rates in major destinations remain strong. Yet across Spain, Italy, France and Switzerland, small, family-run hotels are quietly coming up for sale, not because they are failing, but because their owners are ageing out.

The constraint is succession. With no next generation willing to inherit a place-bound, labour-intensive business, viable assets are entering a market that struggles to absorb them. What follows is not collapse, but transformation: automation, consolidation, or conversion, each trading efficiency for something less easily measured.

#economics #hotels #europe #smallbusiness
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