BNF Immo SA

The company's purpose is to operate, purchase and sell hotels in Switzerland or abroad, except for operations prohibited by the LFAIE; the company may: engage in any financial, commercial or industrial activity, movable or immovable, directly or indirectly related to its purpose in Switzerland and abroad; acquire properties in Switzerland and abroad; establish branches or subsidiaries in Switzerland and abroad; participate in all enterprises having a direct or indirect connection with its purpose in Switzerland and abroad; grant loans or guarantees to shareholders or third parties, if it serves its interests in Switzerland and abroad.