The rental, management and operation of hotels and tourist facilities of all kinds. May establish subsidiaries and branches in Switzerland and abroad, participate in other companies in Switzerland and abroad, acquire, hold and sell real estate and intellectual property rights, carry out all commercial, financial and other activities that are directly or indirectly related to the purpose of the company. Is authorized to take financing, restructuring and intercession measures in favor of shareholders, group companies or third parties, as well as to grant loans to shareholders, group companies or third parties or to provide security for their obligations.