The operation, rental and ownership of hotels, restaurants and all other public establishments, the trade in real estate and all operations related to the hotel industry as well as the real estate, industrial and commercial industries; the company may participate in other companies, establish branches and subsidiaries, both in Switzerland and abroad; it may acquire, hold and dispose of real estate and, in general, carry out any activity directly or indirectly related to its purpose; the company may grant direct or indirect financing to third parties, including its direct or indirect shareholders as well as any other company belonging to the same group, whether through loans or the provision of guarantees or securities, of any kind, in exchange for appropriate consideration.