Barbara Fry

Head Corporate Communications

T+41 58 445 21 41

Steiner AG

Hagenholzstrasse 56

Postfach 6762

CH-8050 Zürich

T+41 58 445 20 00

PRESS RELEASE

Winning project for apartment hotel in Mürren presented
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Medienmitteilung

Monday, 14 April 2014

Last Friday, the winning project for "The Myrrhen" apartment hotel was presented at the Alpine Sports Centre in Mürren. The developer community, consisting of Schilthornbahn AG, Steiner AG and MHBD Swiss Resorts Management as well as the municipality of Lauterbrunnen where the apartment hotel is to be located presented the current status of the project to the inhabitants of Mürren and other interested groups.

The project presented was decided upon through a competition carried out by the developer community. The invited architecture firms had the task of developing project proposals that are suitable from the perspectives of architecture, villagescape, commerce and tourism for the realisation of an apartment hotel with "warm beds". The submission by the firm BrüggerArchitekten AG in Thun was recommended for implementation by a broad expert jury chaired by Remo Halter (architect Swiss Federal Institute of Technology (ETH), the Swiss Society of Engineers and Architects (SIA), Federation of Swiss Architects (BSA)).

The project competition had been launched in 2013 based on the municipal approval of the ZPP (zone requiring planning permission) no. 44 "Apartment hotel Mürren". With the conclusion of the competition, the developer community has completed another important milestone on the way to implementing the project. The six competition projects submitted are on show at the Alpine Sports Centre in Mürren from 11 until 21 April 2014.

Three strong partners as a developer community

Steiner AG, as an experienced project developer, is the driving force behind this project. Steiner AG is developing the project together with Schilthornbahn AG and the future operator, MHBD Swiss Resorts Management AG, a company belonging to Marco Hartmann. The latter has already successfully developed and managed various "warm bed resorts". An important element is the collaboration with professional international tour operators who offer holidays in Mürren to international guests via broad sales channels, thus contributing to a high occupancy level.

Harmonious integration into the villagescape

The architecture of the winning project integrates the original hotel building from the 19th century and merges unobtrusively with the village. The apartments form the harmonious conclusion to the coping, a defining characteristic of Mürren. Consequently, the apartments get their name from the old term for the village: "The Myrrhen". The project incorporates around 75 apartments with 2.5, 3.5 and 4.5 rooms which are distributed across four characteristic detached buildings.

Attractive "warm beds" with well-considered operating concept

"The Myrrhen" is guided by a well-considered operating concept. The basis is the use of a long-standing, tested and practice-proven resort operation concept with high standards of quality.

The apartments are managed professionally and personally and offer high quality in every aspect. Through the partnership with renowned travel companies from Switzerland, Europe and overseas, a good occupancy level is strived for in the high and low seasons. The resort operation, with its local roots, and the synergies with companies locally - such as mountain railways, sports stores, restaurants, alpine spa, sports centre, local tourism and trade partners – provide additional sources of income for the municipality of Mürren and local shops.

Sale to investor planned for 2014/15, start of construction planned for 2015/2016

With the selection of the project envisaged for implementation and the approval given in summer 2013 for the boundary parameters under planning law, a project basis is now in place on which the process of investor recruitment can be started. The sale is planned for 2014/2015. The project volume is approx. CHF 30 million – CHF 35 million. After the issuing of the legally binding building permit and the successful project sale to an investor, implementation is anticipated to start in 2015/2016. The construction time is estimated at around two years.

Information for the media

Barbara Fry, Head Corporate Communications, Steiner AG,

Telephone +41 58 445 21 41,

Downloads

Visualisations of the winning project are available at

THE_MYRRHEN_1.jpg: "The Myrrhen" apartment hotel, Mürren, south-easterly view

THE_MYRRHEN_2.jpg: "The Myrrhen" apartment hotel, Mürren, north-western view
THE_MYRRHEN_3.jpg: "The Myrrhen" apartment hotel, Mürren, interior view, residential area

Steiner AG

Steiner AG is one of the leading project developers and general contractors in Switzerland, offering comprehensive services in the real estate sector. The company, which was established in 1915, has constructed more than 1,200 residential construction projects, 540 commercial properties, 45 hotels and 150 infrastructure facilities such as universities, schools, hospitals, prisons and retirement homes. Steiner has its headquarters in Zurich and is represented by branches in Basel, Berne, Geneva, Lucerne, St. Gallen and Tolochenaz (VD).

MHBD Swiss Resorts Development & Management

MHBD Swiss Resorts Management has been active in Switzerland for 10 years as a developer and operator of alpine holiday resorts. The focus is on the quality requirements of the guests staying at the resorts, and long-term profitability. The owner-managed company has run holiday resorts in Grisons and the Valais since 2006 and has a broad background in tourism (Switzerland Tourism, Graubünden Ferien, Grischalpin).

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