Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

Credit Suisse fund sells upmarket Swiss hotels at 'discount'

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/27/2019 | 03:00am EST
FILE PHOTO: Logo of Swiss bank Credit Suisse is seen Zurich

A Credit Suisse fund is selling several Swiss properties "at a slight discount," including an egg-shaped hotel in Davos that has hosted U.S. President Donald Trump and U2 singer Bono during past World Economic Forum (WEF) events.

Swiss hotel and hospital operator Aevis Victoria, whose holdings include the Victoria Jungfrau in Interlaken, said on Wednesday it has entered into an agreement with Credit Suisse Real Estate Fund Hospitality to acquire eight hotel properties with 640 rooms.

Aevis Victoria said the acquisitions bring the value of properties in its Swiss Hotel Properties SA subsidiary to nearly 500 million Swiss francs (390.49 million pounds), with rental income of more than 20 million francs.

The purchase price for the package that includes the InterContinental property in Davos was not given, though Aevis Victoria said it was "set at a slight discount from the market value as at 31 December 2018."

The six-year-old, 216-room InterContinental hotel in Davos built for some $150 million is known as the "Golden Egg" due to its colour and distinct oval shape and has been favoured by leaders and celebrities during the annual WEF meeting of business and political leaders.

Credit Suisse did not immediately give a reason for why the fund was selling the properties, which include the five-star Mont Cervin and Petit Cervin buildings beneath the 4,478 metre (14,692 foot) Matterhorn mountain in Zermatt.

(Reporting by John Miller; editing by Jason Neely)

Stocks mentioned in the article
ChangeLast1st jan.
AEVIS VICTORIA SA 0.71% 14.1 Delayed Quote.0.00%
CREDIT SUISSE GROUP AG 0.46% 13.24 Delayed Quote.0.53%
HOTEL PROPERTIES LIMITED 1.07% 3.78 End-of-day quote.-1.82%
WHEELOCK AND COMPANY LIMITED 0.99% 51.15 End-of-day quote.-1.63%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Companies"
04:31aRAM Active Investments Enhances its Research Capabilities by Adding Natural Language Processing Expertise
BU
04:30aBLACKROCK THROGMORTON TRUST PLC - CORRECTION : Issue of Equity
PR
04:30aLUCA DE MEO : Cnbc
RE
04:29aVODAFONE : & sunrise announce partnership agreement
PU
04:29aINTERESTED PERSON TRANSACTION : :Entry into a Loan Agreement with a Controlling Shareholder
PU
04:29aASSET ACQUISITIONS AND DISPOSALS : :Investments in Quoted Securities
PU
04:29aGENERAL ANNOUNCEMENT : :New Term Sheet for the Fresh Global Settlement of Outstanding Disputes in Relation to PTMII
PU
04:29aGENERAL ANNOUNCEMENT : :News Release: SGX scales up its index business with EUR186M acquisition
PU
04:27aPureTech Health Cuts Karuna Therapeutics Stake to 20.4%
DJ
04:27aEngie Wins 30-Year Concession Project in Brazil
DJ
Latest news "Companies"