Mürren: Investor sought for Palace Hotel
An investor is being sought for the traditional Palace Hotel in Mürren (BE) to take over, renovate, expand and operate the hotel.
Palace Avenir AG, backed by Mürren institutions, local companies, external landowners and guests, took over the Palace properties from the bankruptcy estate at the end of 2018 and settled the usufruct situation. Now the more than 100-year-old hotel, where among others the King of Norway and Konrad Adenauer stayed, is to be revived.
Currently, Palace Avenir operates the hotel together with the Alpine Sports Center Mürren (ASZ) as a pop-up operation. In this way, the group says, it wants to have enough time for planning and the search for a suitable investor.
The operating and construction concept, which is to be implemented by an investor, envisages that the hotel will position itself in the top segment of Mürren. It is to include 32 large suites with kitchenettes and eleven double rooms, for a total of 96 normal beds and 40 extra beds. After a ramp-up phase, Palace Avenir expects a turnover of CHF 3.7 million and a rental value of 0.75 million, with an occupancy rate of 44%. Structurally, renovations and capacity expansions are planned; investments, including the purchase of real estate and easements necessary for operations, are reportedly 12.5 million. The rental value results in a lease income of 6% for depreciation and interest on the capital.
The large art nouveau hall of the Palace with 200 to 300 seats is to be marketed as a center for events, meetings and seminars. Here, according to the information, a concept with broad sponsorship for investments and contributions to the operation is envisaged. The investments - among other things, the access and ancillary rooms, heating and ventilation are to be improved, are estimated at around 2 million. (ah)
