The company's purpose is to lease, rent, manage and franchise hotels and restaurants, to provide consulting services for the planning, financing, construction and management of such companies, and to provide similar services in the tourism sector, as well as any business that is directly or indirectly suitable to achieve these purposes. Furthermore, the company's purpose is to grant licenses and franchises related to the company's purpose. The company may conduct any business that it considers useful and/or necessary to achieve the purposes mentioned in the preceding paragraph. In particular, the company may acquire participations in other companies with the same or similar purpose in Switzerland and abroad, or purchase, establish or lease such companies and conclude consortium agreements and affiliation agreements with them. The company may establish branches and subsidiaries in Switzerland and abroad. It may lease or rent its business in whole or in part to a subsidiary and sell parts of its assets to a subsidiary. The company may acquire, hold and sell real estate.