Ticino / Ascona – “Giardino” sold for quite a high price
Posted Tue Nov 18 15:43:00 UTC 2008
According to some recent news, Credit Suisse Real Estate Fund Living Plus bought the luxury hotel „Giardino“ in Ascona. That information surprised bankers and business people, especially because of the price: 51.0 Mio. Swiss Francs has been paid by the Real Estate Fund for the hotel building and the Spa. Furthermore, there has been paid an unmentioned amount to participate in the renovation costs of 11.0 Mio. Swiss Francs. According to a communication, the Credit Suisse Real Estate Fund and the joint operating company “Hotel Giardino AG” plan for “a comprehensive renovation and modernisation” of the hotel. Seller of the building is the “Hotel Giardino Immobilien AG”. Albert Bass, Hans-Dieter Cleven and Gregor Furrer, who hold 90% of the stocks till today, will remain as main shareholders, and Daniela and Philippe Frutiger, the present director’s couple, will continue to care for the well-being of the guests.
Source: www.htr No. 46 the 13th of November 2008
Posted By: 
Claudia Starck
