Christmas illuminations are seen on the Savoy Hotel Baur En Ville at the Paradeplatz square in Zurich, Switzerland November 28, 2020.

The Swiss bank regularly reviews its property portfolio as part of its global real-estate strategy, a spokesperson said.
We will carefully assess all offers and potential investors and communicate any decision in due course."

The almost 200-year-old hotel closed this year to undergo a major refurbishment and will reopen in 2024 as the Hotel Mandarin Oriental Savoy Zurich.

The finance blog Inside Paradeplatz, which first reported the news, reported the building could be worth 400 million Swiss francs ($408 million).

A source familiar with the situation said the sale had nothing to do with a strategic review due to be presented on Oct. 27.
Source: Investing.com
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