Golden Egg and Steigenberger: How are the sales of two luxury hotels going in the hustle and bustle of the WEF?

Hotel Alpengold, with its unusual architecture, has been undergoing a change of ownership for almost a year: in April, hotel and hospital group Aevis Victoria announced that several interested parties had come forward. Aevis Victoria purchased the hotel, also known as the “Golden Egg” due to its appearance, at the end of 2019.

It is now clear: Aevis Victoria has rejected all offers so far; a spokesperson confirmed this. This means that Alpengold remains in the hands of Aevis Victoria hotel manager Michel Reybier. “I assume so,” the spokesman explained. There are eleven houses of the luxury class; the portfolio includes, among others, the Bellevue Palace in Bern and the Victoria Jungfrau in Interlaken.

“Alpine gold never managed to fly over”

The company does not explain why Aevis Victoria rejected the parties involved. In any case, the owner is happy with the hotel. “Alpengold is operating well and profitable,” the spokesperson writes. The booking situation for the World Economic Forum is also encouraging.

This positive evaluation is surprising. The public does not perceive “Golden Egg” as a thriving business. In an article published in November, the “SonntagsZeitung” even wanted to know that so far all hotel owners have lost money on the hotel. “Alpengold never managed to fly over,” says Ernst Wyrsch, President of the Hoteliers Association of Graubüsü. «It hasn’t calmed down since it opened. “Many ownership changes indicate economic dissatisfaction,” believes Wyrsch, who personally ran Steigenberger Belvédère for years. Wyrsch certainly attributes its qualities to Alpengold. «The “Golden Egg” is a magnificent hotel. Solidly built, rooms are excellent. It suits Davos very well with its futuristic style, far from Alpine chic. The advantages are good visibility on the lake and quiet surroundings.”

Wyrsch says being a bit outside the center is also a disadvantage. “Therefore, unlike the Belvédère, it is not suitable as a social center at the WEF.” The second is right next to the Davos Convention Centre.

Steigenberger withdrew from Davos

The future of the “Steigenberger Belvédère” is currently being decided. Because the famous brand will no longer have the Steigenberger brand in its name. Frankfurt-based German Hospitality, the owner of the chain, terminated the lease in mid-2024. Steigenberger is retiring from Landwassertal after more than forty years.

However, this only applies to the Steigenberger brand. The iconic grand hotel of 96 rooms and 30 suites on the Davos promenade is reportedly still controlled by the Frankfurt hotelier Steigenberger family; They sold the rights to their brand years ago.

The house officially belongs to the Frankfurt Lisica Group. And now he is urgently looking for a new operator. “I hope to be able to announce a deal within five to six weeks,” says Lisica representative Urs Brandtner. “We are in talks with both parties involved.”

The hotel is being renovated

The media speculated that brands like Marriott or Hilton might come into play. These are two large international chains; “I can’t say anything more about them,” Brandtner explained.

Under the new management, the company will enter into a new practice. “Just focusing on the WEF and skiing is not enough. The tenant must strive to enhance the destination with new amenities such as wellness and health. We will support it with investments,” says Brandtner. The hotel will be renovated as soon as the lease agreement is signed.

But the traditional house is still very busy. WEF weeks are a major source of income for all Davos hotels, and this is especially true for two luxury hotels. According to hotelier Ernst Wyrsch’s estimates, they generate approximately one-third of their annual turnover during this period. “When it comes to value creation, the rate is even higher,” says Wyrsch.