To manage, administer and operate, for commercial purposes, any type of hotel business, restaurants in the broadest sense (including catering or other types of activities assimilated thereto), as well as nightclubs of any kind, in Switzerland and abroad, in its own name or on behalf of third parties. The company may take all suitable and legitimate actions to achieve the purpose defined above, as well as purposes operationally or economically assimilated thereto, in particular to acquire capital shares or participate in companies having the same or similar social purpose. The company may also acquire, establish and encumber real estate or parts thereof, acquire or grant to third parties limited real estate and movable rights, in Switzerland and abroad. The company may establish branches and subsidiaries in Switzerland and abroad.