Investor Aevis Victoria Buys Two Seiler Hotels in Zermatt, Switzerland

Main Photo: The Mont Cervin Palace

Date: November 2019

Location: Zermatt, Switzerland

Name: Mont Cervin Palace (5 star) and Hotel Monte Rosa (4 star)

No. of Keys: 191

Seller: Aevis Victoria acquired Seiler & Partenaires Holding SA , adding two hotels of repute to it’s portfolio of four existing hotels. The Seiler Hotels, whose existence dates back to 1855, include the 5-star luxury hotel Mont Cervin Palace and the 4-star boutique hotel Monte Rosa, both ideally located in the centre of Zermatt.

The hotels record an average occupancy rate of more than 70%. The seven restaurants in the hotels offer their guests culinary specialities. Seiler Hotels AG also owns the Monte Rosa Hotel building and other properties in and around Zermatt.

Buyer: Aevis Victoria continues to expand and strengthens its hospitality segment by integrating two major hotels in Zermatt. The acquisition of Seiler & Partenaires Holding SA adds Mont Cervin Palace and Hotel Monte Rosa to the luxury hotel portfolio.

Aevis Victoria invests in healthcare, hospitality & lifestyle and infrastructure. Their main shareholdings are Swiss Medical Network SA, the second largest group of private hospitals in Switzerland, Victoria-Jungfrau Collection AG, a luxury hotel group managing four luxury hotels in Switzerland, Infracore SA (19%), a real estate company dedicated to healthcare-related infrastructure, a hospitality real estate division, Medgate (40%), the leading telemedicine provider in Switzerland, and NESCENS SA, a brand dedicated to better aging. Aevis is listed on the Swiss Reporting Standard of the SIX Swiss Exchange

Combined, the Hospitality segment will now operate six hotels in five attractive locations in Switzerland, with almost 780 rooms and an annual estimated turnover for 2020 of around CHF 115 million. Aevis Victoria intends to develop a Swiss hotel group of national importance, taking into account the identity of the Seiler Hotels.

Aevis Victoria has submitted a takeover offer to the shareholders of Seiler & Partenaires Holding SA, which controls over 90% of the share capital of Seiler Hotels AG, Zermatt. Until 16 October 2019, 177’750 shares or 98.75% of the capital of Seiler & Partenaires Holding SA were tendered. The company will therefore be integrated and consolidated into Aevis Victoria as of 1st November 2019.

With this integration, the hospitality segment of Aevis Victoria (Victoria-Jungfrau Collection) will become an important player in Swiss tourism and continue to further increase its visibility. The merger will intensify the existing partnership between the two groups, which will keep their identities, and allow synergies to be exploited.

Both companies will benefit from the integration into the Aevis Victoria Group, especially in the areas of procurement, administration, international marketing and financing.

THPT Comment: Aevis, clearly a successful business already in healthcare, have got the bit between their teeth for hospitality…six down, more to come.

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