After a summer marked by contrasting dynamics, the French hotel industry is picking up steam in September, posting generally positive indicators. But behind this apparent stability, significant gaps are widening between categories and regions, creating an unprecedented geographical pattern of performance. While some regions are capitalising on an extended season, such as the South region, others are experiencing a more marked slowdown. This snapshot of the economic situation raises questions about where the French hotel industry really stands on the eve of the last quarter of 2025.