The company's purpose is to operate and manage hotel businesses, including related ancillary businesses such as restaurants and bars, catering, trade in goods, and the provision of related services. The company may establish branches and subsidiaries in Switzerland and abroad, participate in other companies in Switzerland and abroad, acquire, manage, use and transfer licenses, patents and other intangible rights, and conduct all business that is directly or indirectly related to its purpose. The company may acquire, encumber, sell and manage real estate in Switzerland (in compliance with the provisions of the Federal Act on Acquisition of Real Estate by Foreigners) and abroad. It may also provide financing for its own account or for the account of third parties, as well as grant guarantees and sureties for affiliated companies and third parties.