Why did you choose to acquire the Feuerstein and enter the hospitality industry without prior experience?
Peter: It was a stroke of luck that led me into the hotel business. I was working in real estate when the opportunity arose to acquire the Feuerstein and another hotel. I sold the latter straight away, but there was no prospective buyer for the Feuerstein. So, together with my partners, I decided to turn the former youth hostel into a 3-star hotel, which was a viable option back then. We kept improving the property by adding rooms, a swimming pool and, eventually, chalets, raising it to 4-star standard.