Gstaad Hotel Palace not for sale despite regular massive offers
Hotel Palace, the Gstaad, Switzerland luxury hotel, is not for sale, Der Bund reported. Hotel Palace owner Andrea Scherz told the Swiss daily in a lengthy interview he has received and examined several offers, including an offer three years ago for an amount in the hundreds of millions of Swiss Francs, but together with his family always reaches the conclusion that he does not want to sell.
Scherz said the hotel is his life's work and he would never sell out of respect for his predecessors, as long as the hotel is viable from an economic perspective.
Scherz said his family has invested around CHF 100m in the hotel. Andrea, his brother Thierry and father Ernst own a combined 70% in the hotel with a further 10% being held by a Middle Eastern investor and 20% by the Dassault brothers.
Source Der Bund