HOTEL INVESTISSEMENTS ET MANAGEMENT SA

The company's purpose is to operate and own hotels, as well as manage personnel for all hotel services, excluding operations prohibited by the Federal Law on the Acquisition of Real Estate by Foreigners. It may acquire and manage participations in any other company. The company may lend or provide guarantees to its shareholders or third parties if it serves its interests. It may carry out, either on its own account or on behalf of third parties, all commercial or financial transactions directly or indirectly related to its corporate purpose.