operation of travel agencies in Switzerland and abroad; commission, brokerage, trading, import, export, purchase and sale of all products and services, assistance, consulting, representation, promotion in the fields of tourism, hospitality, air transport and similar or related fields; real estate transactions abroad; participation in all companies, except for real estate participation in Switzerland, created or to be created that can be directly or indirectly related to the company's purpose or to all similar or related purposes, including companies or societies whose purpose may contribute to the realization of the company's purpose and this, by all means, including through the creation of new companies, merger, contribution or subscription, purchase of securities or social rights, association in participation or otherwise; loans and guarantees in favor of any person, in particular its shareholders and directors (cf. statutes for complete purpose).