Any activity in the design, development and trade of furniture and real estate, in particular the purchase, import, sale, rental, exchange, holding and administration, as well as any activity in the creation and operation of hotel and para-hotel concepts, purchase and sale of hotels, and any activity related to hospitality and short-term accommodation, excluding operations prohibited by the Federal Act on the Acquisition of Real Estate by Foreigners. The company may pursue its purpose through any operations - especially through any contracts - without limitation: regarding their location - in Switzerland or abroad; regarding their object - whether it concerns material property (movable or immovable) or intellectual property or services; regarding their execution - whether by the company, by branches of the company, by participations in other companies or by subcontractors. The company may also conclude all loan agreements with its associates, as debtor or creditor, or grant them guarantees, if this serves its interests.