Nearly half of Swiss top hotels owned by foreigners
501 views · Published 12 January 2016 · 2:05 · Indexed 23 October 2026
Channel: SWI swissinfo.ch - English · 2016 · News & Politics
While the strong Swiss franc is causing headaches for mid-ranged hotels, it is attracting foreign investors looking for hotels in the luxury sector. (RTS/swissinfo.ch) For many, Switzerland is a byword for luxury hospitality, stretching back more than a century to when ailing British aristocrats sought health treatments or adventurous travellers crossed the Alps. Many of the hotels that served these clients now require extensive renovations to remain competitive. Increasingly, hoteliers are selling to foreign investors, attracted by Switzerland’s economic and political stability. In the eastern canton of Graubünden, several luxury hotels were declared bankrupt in 2015. The Waldhaus mountain resort and spa was bought by American James Zenni, CEO of the Z Capital Group. In Lucerne in central Switzerland, the Palace Hotel was snapped up by a Chinese investor, Yunfeng Gao, who also owns the Hotel Frutt Family Lodge in Melchsee-Frutt, and who is building a new five star hotel in Engelberg. --- swissinfo.ch is the international branch of the Swiss Broadcasting Corporation (SBC). Its role is to report on Switzerland and to provide a Swiss perspective on international events. For more articles, interviews and videos visit swissinfo.ch or subscribe to our YouTube channel: Website: http://www.swissinfo.ch Channel: http://www.youtube.com/swissinfovideos Subscribe: http://www.youtube.com/subscription_center?add_user=swissinfovideos
