General Information

CS Real Estate Fund Hospitality

CS REF Hospitality

The Credit Suisse Real Estate Fund Hospitality (CS REF Hospitality) invests mainly in hospitality properties. Specifically, they include convention centers, residential properties offering hotel-style services, hotels, residential and temporary living facilities, healthcare real estate, and residential real estate throughout Switzerland. By law, the fund is prohibited from holding a stake in operating companies. The fund holds the real estate directly. Holders of unit certificates who are resident in CH are therefore not subject to income/wealth tax on the portion of the income/wealth that comes from direct property holdings. CS REF Hospitality has been listed on the SIX Swiss Exchange since 2012.

Top 5 Projects/Properties

Hotel Mont Cervin Palace, Zermatt

Hotel Mont Cervin Palace, Zermatt 

  • Construction year: 1862 
  • Utilization: Hotel 
  • Size of investment in CHF: 52,5 Mio.
  • Total rentable area: 14 487 m2
InterContinental Davos Resort & Spa, Davos

InterContinental Davos Resort & Spa, Davos

  • Construction year: 2013
  • Utilization: Hotel & Residential
  • Size of investment: CHF 172.7 Mio.
  • Total rentable area: 22 854 m2
SwissTech Convention Center and Residential, EPFL Lausanne

SwissTech Convention Center and Residential, EPFL Lausanne 
Centre de Congrès et de Recontres, Les Blévallaires 

  • Construction year: 2014
  • Utilization: Residential / Convention Center
  • Size of investment: CHF 124,6 Mio.
  • Total rentable area: 29 194 m2
Holiday resort Pradas Brigels

Holiday resort Pradas Brigels


Hotel management colleges in Western Switzerland

Fund Manager

Christophe Piffaretti

Christophe Piffaretti

Christophe Piffaretti has worked at Credit Suisse Real Estate Investment Management since September 2014. 

He completed an Executive MBA at Reims Management School and has a Bachelor of Science in both economics and international hospitality management. 

He gained initial first-hand experience of the hospitality business at the Intercontinental Hotels Group. He then went on to work at Kempinski Hotels for nine years, first as Director Strategic Planning, then as Vice President Corporate Expansion and later as Senior Vice President Development, where he was responsible for the group's expansion and entry into key markets. His last position at Kempinski Hotels was as Managing Director of Kempinski Residences, a subsidiary created under his own initiative. Subsequently, he worked as Chief Investments Officer and Chief Operating Officer of La Perla International Living, an international real estate developer based in the Netherlands. In 2011, he joined the Fairmont Raffles Hotels International Group as Vice President Development Europe & CIS. 

After joining Real Estate Investment Management at Credit Suisse he familiarized himself with his remit as fund manager of CS REF Hospitality and took over this function as of January 1, 2015. Christophe Piffaretti is a regular guest speaker at international hotel and investment conferences.


Secondary Content


Annual/semi-annual reports and other information on real estate investment products on FundGateway under the Real Estate Funds asset category:

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