The Zurich-based luxury hotel comprises 98 rooms and suites, an Indoor and outdoor pool, two Restaurants (including the two-Michelin-star “Ecco”), a Spa, a hair salon, as well as the with nearly 2000 square meters, the largest Suite in the world, which occupies the entire top floor of The Hotel Atlantis by Giardino at the foot of the Uetliberg mountain is one of the first houses in the square in Zürich.

Now it is for sale. The owners, the Royal family of Qatar, wants to CHF 160 million. In 1995, his son, deposed former ruler, Sheikh Khalifa bin Hamad al-Thani, had bought the house in 2012. The cost of the Acquisition and the subsequent year-long Renovation to his Wish to have a total of around 240 million Swiss francs.

utilization is below 50 percent

The Emir, resided after his fall in the Zurich Park Hyatt Hotel, was for his family provided for record-Suite with eight bedrooms for 15 persons never use: He died in October 2016. Today, the occupancy of the Hotels was below 50 percent, you can hear in the industry (what is the operator, the Giardino group, denies), the house is in deficit, also due to its decentralized location.

Now the heir to the Emir’s want to divest and sell around the globe, yachts, palaces and Hotels: In September, the real estate service provider, CBRE, to begin with the marketing of the hotel Atlantis. In the months before, the owners were asking different Zurich Family Offices directly if you would be interested in a purchase offer.

prominent bidders

Two quotes have been received, both of which were rejected. A comes from the Chinese billionaire Yunfeng Gao, the country is already the “Palace Luzern”, and the “Frutt Family Lodge” in Melchsee belong. In the fall of 2020 in Engelberg 100 million in expensive Five-star Titlis to open up Palace with 129 rooms. Also a Takeover of the Victoria-Jungfrau Collection 2013 he was interested. 75 million Swiss francs is said to have commanded Gao for the “Atlantis”, much less so than the owners demanded.

The second quote comes from Patrick Liotard-Vogt, Nestlé heritage, Jetsetter and is the majority shareholder in Asmallworld (ASW), the Frankfurt-listed Social Media network for the Rich. He is said to have offered 100 million Swiss francs, and the ideas of the owner away from the price. “The Acquisition of the Atlantis hotel, I can imagine that, if the conditions remain reasonable,” says Liotard-Vogt.

This article was published in the magazine “balance”. More exciting articles, see www.bilanz.ch

the Hotel in case of success, would be Operated by ASW, against which the exchange will determine the regulators in Frankfurt and Zurich for a possible breach of disclosure obligations: “ASW is, in principle, keen to expand the Portfolio of Hotels under Management, especially in our Homebase Zurich,” he says. The Giardino group did not comment on the sale plans.