Baker McKenzie has advised Pictet on the acquisition of the five-star Marriott Zurich hotel by the Elevation II Direct Real Estate Fund and associated capital, advised by Pictet Alternative Advisors ("Pictet") in partnership with Vertell Asset Management as operating partner.
The asset comprises 266 guest rooms and enjoys an attractive riverfront location, close to
Zurich’s historic city center and main train station. Furthermore, the Zurich Marriott offers the most extensive conference facilities among Zurich five-star city-center hotels. Operated under the Marriott brand since 1996, the hotel has a stable positioning and strong operational performance. Its public spaces and food & beverage outlets have already been comprehensively modernized, and the hotel is midway through a guestroom renovation program.
Baker McKenzie advised Pictet on all legal and tax structuring aspects of the transaction. The Zurich-based team was co-led by Samuel Marbacher (Real Estate and Banking & Finance), Alexander Wyss (Real Estate), Matthias Trautmann (M&A) and Markus Wolf (Banking & Finance), and included Charlotte Rüegg and Felix Maier (both Banking & Finance), Susanne Liebel-Kotz, Pascal Daniela Schwizer (both Tax), René Kühn (M&A), Pascal Dorier (Real Estate), Nicole Christ and Lukas Bader (trainee lawyers).
About Pictet Group and Pictet Alternative Advisors
The Pictet Group is a partnership of owner-managers, with principles of succession and transmission of ownership that have remained unchanged since foundation in 1805. It offers only wealth management, asset management, alternative investment solutions and related asset services. The Group does not engage in investment banking, nor does it extend commercial loans.
Pictet Alternative Advisors (PAA) is an independent unit within the Pictet Group that manages investments in hedge funds, private equity, private debt and real estate assets for both private and institutional clients. Pictet employs around 200 alternative investment specialists and manages USD 54 billion in alternative strategies, with USD 31 billion in private equity, USD 18 billion in hedge funds, USD 5 billion in real estate and USD 1 in private debt (as of 31 December 2025).
The asset comprises 266 guest rooms and enjoys an attractive riverfront location, close to
Zurich’s historic city center and main train station. Furthermore, the Zurich Marriott offers the most extensive conference facilities among Zurich five-star city-center hotels. Operated under the Marriott brand since 1996, the hotel has a stable positioning and strong operational performance. Its public spaces and food & beverage outlets have already been comprehensively modernized, and the hotel is midway through a guestroom renovation program.
Baker McKenzie advised Pictet on all legal and tax structuring aspects of the transaction. The Zurich-based team was co-led by Samuel Marbacher (Real Estate and Banking & Finance), Alexander Wyss (Real Estate), Matthias Trautmann (M&A) and Markus Wolf (Banking & Finance), and included Charlotte Rüegg and Felix Maier (both Banking & Finance), Susanne Liebel-Kotz, Pascal Daniela Schwizer (both Tax), René Kühn (M&A), Pascal Dorier (Real Estate), Nicole Christ and Lukas Bader (trainee lawyers).
About Pictet Group and Pictet Alternative Advisors
The Pictet Group is a partnership of owner-managers, with principles of succession and transmission of ownership that have remained unchanged since foundation in 1805. It offers only wealth management, asset management, alternative investment solutions and related asset services. The Group does not engage in investment banking, nor does it extend commercial loans.
Pictet Alternative Advisors (PAA) is an independent unit within the Pictet Group that manages investments in hedge funds, private equity, private debt and real estate assets for both private and institutional clients. Pictet employs around 200 alternative investment specialists and manages USD 54 billion in alternative strategies, with USD 31 billion in private equity, USD 18 billion in hedge funds, USD 5 billion in real estate and USD 1 in private debt (as of 31 December 2025).
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