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Credit Suisse’s failure is costing Qatari government funds dearly. The longstanding main shareholder lost almost all of his stake in the bank as a result of Credit Suisse’s bankruptcy.
It seems that the Gulf state now needs fresh money and is looking for buyers for its three luxury hotels in Switzerland. This was reported by the financial portal Inside Paradeplatz. Based on an anonymous source.
1.75 billion total package
Qataris are reportedly asking for CHF 1.2 billion for the Bürgenstock Resort, CHF 250 million for the Schweizerhof in Bern, and CHF 300 million for the Savoy in Lausanne.
The search for buyers is said to have been conducted quietly by the Qataris. The financial blog writes that potential buyers are approached directly by agents. Hotels are not advertised to the public.
Despite billions of investments, sales
Blick wanted to know what was going on with Katara Hospitality, owner of the hotels. However, no answers have been found to the questions asked so far.
Just a few years ago, the small state invested heavily in Swiss hotels. The Qataris renovated the Bürgenstock for more than half a billion francs and expanded it into a huge luxury complex. With two hotel palaces, several restaurants, apartments, a luxury clinic, a golf course and a large spa.
In total, Qatar has invested more than one billion Swiss francs in Swiss luxury hotels. The Katara Group owns more than forty hotels worldwide. Despite plans to sell, the group plans to expand to sixty hotels, according to the company’s website. (to be)
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.
