Qatar is a major shareholder in failing bank Credit Suisse.
According to the banking industry magazine “Inside Paradeplatz”, Katara Hospitality, a public investment fund whose portfolio includes hotels worldwide, now wants to sell the Bürgenstock resort on Lake Lucerne to compensate the losses of the Credit Suisse crisis – for a whopping 1.2 billion francs.
As a major shareholder of Credit Suisse, Qatar injected money into the bank in December 2022. The investment turned out to be a flop – which is why Qatar now needs to generate cash, according to the report. According to the specialist magazine, Katara Hospitality is therefore not only aiming to sell the Bürgenstock resort, but also the Schweizerhof in Bern and the Savoy in Lausanne.
None of the hotels has yet confirmed owner Katara Hospitality’s intention to sell. Bürgenstock’s board of directors denied the rumors of the sale in the Luzerner Zeitung.