Credit Suisse fund sells upmarket Swiss hotels at 'discount'

Aevis Victoria SA

27/11/2019 07:52

ZURICH, Nov 27 (Reuters) - A Credit Suisse  CSGN.S  fund is
selling several Swiss properties "at a slight discount,"
including an egg-shaped hotel in Davos that has hosted U.S.
President Donald Trump and U2 singer Bono during past World
Economic Forum (WEF) events. 
    Swiss hotel and hospital operator Aevis Victoria  AEVS.S ,
whose holdings include the Victoria Jungfrau in Interlaken, said
on Wednesday it has entered into an agreement with Credit Suisse
Real Estate Fund Hospitality  HOSP.S  to acquire eight hotel
properties with 640 rooms. 
    Aevis Victoria said the acquisitions bring the value of
properties in its Swiss Hotel Properties SA subsidiary to nearly
500 million Swiss francs ($501 million), with rental income of
more than 20 million francs.
    The purchase price for the package that includes the
InterContinental property in Davos was not given, though Aevis
Victoria said it was "set at a slight discount from the market
value as at 31 December 2018." 
    The six-year-old, 216-room InterContinental hotel in Davos
built for some $150 million is known as the "Golden Egg" due to
its colour and distinct oval shape and has been favoured by
leaders and celebrities during the annual WEF meeting of
business and political leaders. 
    Credit Suisse did not immediately give a reason for why the
fund was selling the properties, which include the five-star
Mont Cervin and Petit Cervin buildings beneath the 4,478 metre
(14,692 foot) Matterhorn mountain in Zermatt. 
    ($1 = 0.9972 Swiss francs)

 (Reporting by John Miller; editing by Jason Neely)
 ((J.Miller@thomsonreuters.com; +41 58 306 7734; Reuters
Messaging: j.miller.thomsonreuters.com@reuters.net))