Savoy Hotel Baur en Ville turns Mandarin Oriental Hotel

Savoy Hotel Baur en Ville turns Mandarin Oriental Hotel – Zürich, Switzerland

Key Service: Hotel Asset Management
Location: Zürich, Switzerland
Product: Scenario Planning, Contract Negotiation, Valuation


After three decades in office, the hotel manager went into retirement. The owner Credit Suisse Group AG took this opportunity to plan a comprehensive restructuring of the hotel, so they could position it in the international luxury segment. The property should undergo a substantial refurbishment programme and the operation should be managed by an internationally reputed hotel management company, thereafter. Both measures should serve to notably increase the real estate value. Horwath HTL’s expertise was called upon to help understand and evaluate the consequences of several scenarios.


Horwath HTL Switzerland provided a comprehensive documentation which served as a basis for decision-making. Therein we detailed several possible scenarios, we prepared the relevant financial projections and their expected impact on the real estate value. In a first phase Horwath HTL was able to support the restructuring process by sourcing a new hotel manager who was able to markedly improve the hotel’s performance. Parallel, negotiations with global leading hotel management companies were conducted with regard to the future operation and refurbishment planning. Horwath HTL Switzerland has continually lent their expertise to the negotiation process. Finally, Credit Suisse Group AG has decided to sign a management agreement with Mandarin Oriental Hotel Group.


The contracts were signed in November 2020; the last and final details of refurbishment will be decided on in the very near future. Construction works shall start as soon as building approvals have been received.

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Project Quote

Credit Suisse commissioned Horwath HTL as part of a project for the repositioning of the Savoy Hotel Baur en Ville on Paradeplatz in Zurich, in which a subsidiary of Credit Suisse Group AG holds a majority stake. During the three-year cooperation, Horwath HTL not only provided services in connection with the new operator concept, but also supported us in the search for an interim general manager and also provided us with numerous valuable insights and advice on other matters relating to the hotel.

Thanks to the outstanding expertise, professionalism and efficiency of the representatives from Horwath HTL, Mr. and Mrs. Heinz and Michaela Wehrle, we managed to bring the complex project to a successful conclusion. We greatly appreciated the support of Horwath and would therefore not hesitate to use their services for further projects with hotels in the Credit Suisse portfolio or their investment vehicles.

Pierre Schreiber
Sen Advisor & Projects Chairman’s Office
Credit Suisse Group AG