The company's purpose is to operate properties, hotels and apartment buildings, in particular renting, managing and letting entire houses or individual apartments and flats. The company may establish branches and subsidiaries in Switzerland and abroad and participate in other companies in Switzerland and abroad, as well as conduct all business that is directly or indirectly related to its purpose. The company may acquire, encumber, sell and manage real estate and intellectual property rights in Switzerland and abroad. It may also provide financing for its own account or for the account of third parties, as well as provide security for the liabilities of affiliated companies.