The management of public establishments, in particular hotels, aparthotels, guesthouses and pensions; restaurants, inns, taverns, grottos, canvetti and breweries; cafes, bars and tea rooms; nightclubs, discos and piano bars, as well as wholesale and retail trade on its own account and/or on behalf of third parties of goods of all kinds. The company is authorized to establish branches, affiliated companies and foundations both in Switzerland and abroad, and may participate in other companies. The company is authorized to acquire and encumber properties both in Switzerland and abroad for its own use and/or to achieve its social purpose. The company is authorized to carry out any further activity aimed at achieving the social purposes and objects mentioned in the preceding paragraphs or in any way connected with them, both in Switzerland and abroad.