No fairy tale: Badrutt's Palace given "as a gift"

Ascona. It seems as if a wind has caught the Swiss luxury hotels. The country's leading Grand Hotels are currently investing millions in order to regain access to the international elite. Be it Dolder Grand in Zuerich, Les Trois Rois in Basle, the Suvretta House in St. Moritz, the Resorts Bad Ragaz or the Tschuggen Group: All of them are in the hands of private patrons who give their real estate portfolios some splendour with these hotels. Three of the four Tschuggen Hotels owned by Karl-Heinz Kipp are currently being closed one after the other to receive a luxury renovation and enter the market again afterwards. Daniel J. Ziegler, CEO of Tschuggen Hotel Group and delegate of the President of the Board of Directors, Kipp, explain the strategy.