Lucerne: Chinese investor for Palace Hotel?

According to the newspaper, citing Gao's business partner Toni Bucher of Eberli AG Sarnen, he is offering the owner Credit Suisse an amount in the double-digit millions.

The "Palace" with its 129 rooms is part of the portfolio of the CHF 1.4 billion CS Real Estate Fund Hospitality. According to its own statements, CS wants to reduce the accommodation share in the fund. Rumors circulated as early as October that local interested parties wanted to buy the hotel from Credit Suisse for a mid-double-digit million amount. However, CS is said to have rejected this as too low.

Gao is no stranger to the Swiss hotel market. He has already invested in two new hotels on Melchsee-Frutt. In Engelberg, he is planning a hotel project at the Kurpark for CHF 100 million, and the building permit for this has now been issued. (ah)