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The oldest grand hotel in the city of Zurich shines in new glory: since Thursday, the Mandarin Oriental Savoy on Paradeplatz has been inviting wealthy guests to linger. The five-star hotel opened on Wednesday evening. In addition to the heads of the Hong Kong Mandarin Oriental hotel group and Zurich government councilor Mario Fehr (65), UBS boss Sergio Ermotti (63) was also present at the ceremonial ribbon cutting. Because the hotel is in the hands of the big bank.
The former Hotel Savoy Baur en Ville was once part of Credit Suisse’s silverware. CS tried to make money from this just a few months ago but failed. No one was ready to pay the required 530 million francs.
With the acquisition of CS, UBS becomes a hotel owner again, after selling its last property, the Zurich Widder Hotel, to insurer Swiss Life five years ago. “We will use this jewel with care,” Ermotti said at the opening.
A respected institution for years is becoming even more luxurious
With the reopening, the long-established institution becomes even more luxurious: Mandarin Oriental is one of the world’s classiest hotel chains. It operates 40 five-star hotels worldwide. The price of the 200 square meter Presidential Suite, the most expensive room in Zurich, is 15,000 francs per night. In addition to the bedroom, there is a living and dining room, a kitchen, a walk-in closet and a bathroom with a sofa. There is also a large terrace with views of Zurich’s Paradeplatz. The price per night for the cheapest double room of 25 square meters starts from 800 francs.
The hotel has a long history. It was opened on 24 December 1838 under the name Baur en Ville by Johannes Baur, a journeyman baker from Vorarlberg. Following the last renovation between 1975 and 1978, Savoy Baur en Ville had 104 rooms and suites, as well as several function rooms used primarily for Credit Suisse meetings. With the new opening of the Mandarin Oriental hotel group, there are currently 80 rooms and suites. (Snap)
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.
