History
Previously Advanta Management A.G., an investment group of Dieter Bock, had a large stake in the company, and Deutsche Lufthansa had a 20% stake in the company. In 1992 Lufthansa sold 20% of Kempinski to Advanta. In 1994 Advanta sold 50.2% of Kempinski to Dusit Sindhorn Company Ltd., a Thai hotel company. One week after the Dusit Sindhorn acquisition, Lufthansa announced that it was going to sell its remaining stake to Advanta.
In 1997 Kempinski formed a new company, Kempinski Hotels SA, which was to have an initial capitalization of $3.5 million U.S. dollars ($5067164.18 when adjusted for inflation). At the time the Kempinski brand had 13 hotels that were not in Germany and the new company was to manage those hotels. The hotel company was also to hire seven local employees. Kempinski chose Geneva, Switzerland, as the new international headquarters due to a desire for expansion of international operations. Hotel Management lauded its choice of Geneva because the "Swiss hotel sector as a whole has broken out of the lethargy that characterized most European urban centers over the past two years."
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