CS puts "Palace" in Lucerne up for sale
Credit Suisse wants to sell the five-star "Palace" hotel on the Quai in Lucerne. According to various media reports, there are already local buyers interested in purchasing the hotel for a mid double-digit million euro sum. However, CS is said to have rejected this as being too low.
The property is part of the portfolio of the CHF 1.4 billion CS Real Estate Fund Hospitality. The fund also includes the Intercontinental in Davos, whose tenant went bankrupt last year. According to CS, it intends to reduce the proportion of accommodation in the fund.
The hotel on Lucerne's lakeside promenade has been operated by the investment company Aevis Victoria since spring 2014. (ah)
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