The company's purpose is the operation of buildings and hotel and para-hotel residences. The company may engage in any financial, commercial, industrial, movable or immovable activity, directly or indirectly related to its purpose or likely to facilitate its realization, conclude contracts that are intended to develop its activities or that are directly or indirectly related thereto, receive income in the form of interest, commissions and dividends, create branches or subsidiaries in Switzerland and abroad, take participations, acquire or create identical or analogous businesses, participate in any enterprises having a direct or indirect connection with its purpose. It may carry out these operations both for its own account and for the account of others. It may grant loans and provide guarantees in favor of any person, including its shareholders and directors.