The company's purpose is to operate and manage hotels, accommodation and gastronomy facilities in its own name, in the name of third parties and for the account of third parties or on behalf of third parties, as well as to provide related services. The company may establish branches and subsidiaries in Switzerland and abroad and participate in other companies. The company is authorized to acquire, encumber, sell and manage licenses, patents and other intangible assets, as well as real estate, in Switzerland and abroad, to conduct investment and lending transactions of any kind, and to provide guarantees. The company may conduct investment and lending transactions of any kind and provide guarantees, it may grant direct or indirect financing to group companies or third parties, including its direct or indirect shareholders or their direct or indirect subsidiaries, and provide security for the liabilities of such other companies, including by way of pledges on or fiduciary transfers of the company's assets or guarantees of any kind, whether for consideration or not. Furthermore, it may engage in liquidity management / concentration of net liquidity (cash pooling) with the aforementioned companies or join such a system, including periodic account settlement (zero balancing), also under preferential conditions without interest, excluding the company's profit motive and assuming cluster risks. In addition, the company may conduct any business and engage in any commercial, financial or other activities that are suitable to promote the company's purpose or are directly or indirectly related to it.