The creation and management of hotel establishments and accommodations. The company may engage in consulting and brokerage activities for the purchase and sale of properties and companies. The company may exercise the activity of property manager or participate in such companies. The company may establish branches and subsidiaries and may participate in other companies, both in Switzerland and abroad, and in general, engage in any activity directly or indirectly related to its purpose; the company may acquire, hold and dispose of real estate properties both in Switzerland and abroad for purely commercial purposes; it may carry out, either on its own account or on behalf of third parties, all financial operations as well as provide guarantees or warranties for subsidiaries or third parties.