{"id":1675214,"date":"2022-10-06T05:07:48","date_gmt":"2022-10-06T09:07:48","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1675214"},"modified":"2022-10-06T05:08:05","modified_gmt":"2022-10-06T09:08:05","slug":"credit-suisse-looks-to-sell-zurichs-savoy-hotel","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/credit-suisse-looks-to-sell-zurichs-savoy-hotel\/","title":{"rendered":"Credit Suisse looks to sell Zurich\u2019s Savoy Hotel"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcredit-suisse-looks-to-sell-zurichs-savoy-hotel%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1675214&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>ZURICH (Reuters) \u2013     Beleaguered bank Credit Suisse is looking to sell its famed Savoy Hotel, located on Paradeplatz in the centre of  Zurich\u2019s financial district, it said on Thursday. <\/p>\n<p>The Swiss bank regularly reviews its property portfolio as part of its global real-estate strategy, a spokesperson said. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>\u201cAs part of this process, the bank has decided to start a sales process for the Hotel Savoy,\u201d she said. \u201cWe will carefully assess all offers and potential investors and communicate any decision in due course.\u201d<\/p>\n<p>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. <\/p>\n<p>The finance blog Inside Paradeplatz, which first reported the news, reported the building could be worth 400 million Swiss francs ($408 million).<\/p>\n<p>Credit Suisse has had to raise capital, halt share buybacks, cut its dividend and revamp management after losing more than $5 billion from the collapse of investment firm Archegos in March 2021, when it also had to suspend client funds linked to failed financier Greensill.<\/p>\n<p>It has been working on possible asset and business sales in a bid to return to profitability. A source familiar with the situation said the sale had nothing to do with a strategic review due to be presented on Oct. 27.<\/p>\n<p>($1 = 0.9795 Swiss francs)<\/p>\n<p> (Reporting by Noele Illien; Editing by Mark Potter)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/credit-suisse-looks-to\/attachment\/christmas-illuminations-are-seen-on-the-savoy-hotel-baur-en\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI950BL-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI950BL-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>ZURICH (Reuters) \u2013 Beleaguered bank Credit Suisse is looking to sell its famed Savoy Hotel, located on Paradeplatz in the centre of Zurich\u2019s financial district, it said on Thursday.<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1675214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1675214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1675214"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1675214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1675214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1675214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1675214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}