Badrutt's Palace Hotel AG

Operation of hotels and restaurants, in particular the Palace Hotel in St. Moritz with its affiliated dependencies and ancillary businesses; the company may participate directly or indirectly in undertakings of the same or similar nature, acquire or operate such undertakings, and merge with such undertakings, may buy or sell real estate, lease or sublease, operate retail stores, distribute and manufacture consumer goods or have them manufactured, and exploit intellectual property rights and procedures, and may conduct all business related to tourism, the hotel industry and its purpose in general.