AEVIS VICTORIA SA / Key word(s): Acquisition
27-Nov-2019 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
Fribourg, 27 November 2019
AEVIS VICTORIA SA: Development of the hotel segment
The subsidiary Swiss Hotel Properties increases its hotel properties portfolio to nearly CHF 500 million
AEVIS VICTORIA SA (AEVIS VICTORIA) acquires several hotel properties from Credit Suisse Real Estate Fund Hospitality (CS REF Hospitality). The Mont Cervin and Petit Cervin buildings in Zermatt, the InterContinental building in Davos and other hotel properties will add to the existing portfolio of its subsidiary Swiss Hotel Properties SA on 1 January 2020, bringing its value to nearly CHF 500 million. AEVIS VICTORIA thus controls the operations and the real estate of the Seiler hotels in Zermatt, reuniting those assets which had been separated in 2011 and allowing for a better planning of long-term development and investments. The group also takes over the rights on the trademarks « Seiler Hotels », « Mont Cervin » and « Petit Cervin », which were transferred to CS REF Hospitality when the buildings were sold. The purchase price was set at a slight discount from the market value as at 31 December 2018. As part of this transaction, AEVIS VICTORIA is also acquiring the operating company Weriwald AG, which manages the InterContinental Hotel in Davos.
AEVIS VICTORIA has entered into an agreement with CS REF Hospitality to acquire eight hotel properties, totalling 640 rooms and 70’957 sqm of surface area, including the Seiler Mont Cervin and Petit Cervin hotels in Zermatt, whose operations were recently acquired by AEVIS VICTORIA. These properties will be included in the portfolio of Swiss Hotel Properties SA, its subsidiary dedicated to hotel infrastructures. After integrating these assets on 1 January 2020, the buildings in the portfolio, located on seven sites, will total 111’127 sqm and count 896 rooms. The total valuation will approach CHF 500 million with rental income of more than CHF 20 million. Real estate management is essential for AEVIS VICTORIA, in order to allow for coherent investment planning, particularly in the hotel segment.
AEVIS VICTORIA also acquired Weriwald AG, which operates the InterContinental Hotel in Davos. This company will be integrated into Victoria-Jungfrau AG, the operating company of the AEVIS VICTORIA hotel segment. With this acquisition and the integration of the Seiler hotels, Victoria-Jungfrau AG increases its number of hotels to seven. With this scope, it will achieve annual revenues of more than CHF 135 million in 2020. All Victoria-Jungfrau AG hotels have been managed by Michel Reybier Hospitality under a management contract since 2016. This contract has been extended for the use of the « La Réserve » brand in Zurich.
For further information:
AEVIS VICTORIA SA – Investing for a better life
End of ad hoc announcement