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Savoy Hotel Baur en Ville is one of the best hotels in Zurich. The 5-star hotel is located at Paradeplatz on the elegant Bahnhofstrasse. It was owned by Credit Suisse, which is now part of UBS. Even before the forced merger, Credit Suisse was looking to exit the luxury hotel and was looking for a strong buyer.
The traditional hotel could not be bought for less than 530 million francs. These are Credit Suisse’s plans. It looks like the bankers made a serious miscalculation. Because it turned out that no one was willing to pay this terrible price. This is reported by the financial blog “Inside Paradeplatz”.
It is therefore clear that the elegant hostel in a prime location in Zurich will no longer be for sale. This was reported at the general meeting of the Savoy Baur en Ville company. New plan: The hotel is planned to open as Mandarin Oriental in spring 2024, while “Inside Paradeplatz” is ongoing. Hong Kong’s Mandarin Oriental hotel group is one of the most stylish chains. It operates 40 5-star hotels worldwide.
Hotel Savoy has been closed since the beginning of the year for extensive renovations. Interior work is being carried out according to the plans of Parisian interior designer Tristan Auer (51).
Baur en Ville was opened as the first grand hotel in the city of Zurich on 24 December 1838 by Johannes Baur, a journeyman baker from Vorarlberg. After renovations in 1857 and 1907, the hotel had a total of 170 rooms when it reopened in June 1908.
Between 1975 and 1978 the hotel closed its doors for major renovations. The façade was carefully dismantled and then rebuilt with historical accuracy.
Since then, the Savoy Hotel Baur en Ville has housed 104 rooms and suites, as well as several function rooms that until recently were used primarily for Credit Suisse meetings. There will be 80 more rooms and suites when it reopens in 2024. The needs of wealthy customers have changed.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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