European Hotel Sector "UBS Evidence Lab: May hotel search interest a mix..."

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European Hotel Sector "UBS Evidence Lab: May hotel search interest a mix..."

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European Hotel Sector Equities

Europe including UKUBS Evidence Lab: May hotel search interest a

mixed bag Lodging

Jarrod Castle, CFA

Analyst

jarrod.castle@ubs.com

UBS Evidence Lab hotel search monitor shows mixed results +44-20-7568 8883

We provide the latest cut of the UBS Evidence Lab Global Hotel Search Monitor (> Ivar Billfalk-Kelly

Access Dataset) , which tracks search interest in hotel brands (currently highly correlated Analyst

to RevPAR) between January 2018 and 23 May 2026. The YoY change in Google Search ivar.billfalk-kelly@ubs.com

interest represents the change in the share of search for a keyword, and in our view +44-20-7568 3240

offers a good level of granularity on consumer interest towards hotel bookings and, in Robin M. Farley

particular, brands. We note that in May 2026, search interest weakened for most of the Analyst

brands tracked in the US, UK and France sequentially, with Germany relatively robin.farley@ubs.com

unchanged. May 2026 search interest showed a mixed bag across the brands tracked in +1-212-713 2060

the US, UK, France and Germany vs 2025 levels. One-month moving average search Artem Prokopets

interest trends showed an improvement in search interest for Hilton, DoubleTree, Analyst

Marriott. IHG brands saw some weakening and Premier Inn was flat yoy. Accor brands artem.prokopets@ubs.com

across France appeared to improve, while ibis in Germany declined. +44-20-7901 5625

Ben Shelley, ACA

ben.shelley@ubs.com

+44-20-7568 3957

Figure 1: UBS brand momentum table (%)

UBS br

and mome ntum tab le (%)

Source: Company data, UBS Evidence Lab (> Access Dataset), Google; STR Global, Ltd.