Ueli Prager, the founder of the Swiss hotel and restaurant group Mövenpick, died on Saturday at the age of 95, according to his family.

"/> Ueli Prager, the founder of the Swiss hotel and restaurant group Mövenpick, died on Saturday at the age of 95, according to his family.

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BUSINESS

Swiss food pioneer dies at 95

Ueli Prager, the founder of the Swiss hotel and restaurant group Mövenpick, died on Saturday at the age of 95, according to his family.

Prager was one of Switzerland’s most renowned businessman and, like most pioneers, he was “open to everything,” the family said.

Born in Wiesbaden (Germany) to a Swiss family, he opened his first restaurant in Zurich in 1948, The Mövenpick.

The Mövenpick kicked off what would become one of his biggest revolutions in Switzerland: offering healthy food at relatively low prices and with fast service. He used to explain that he got the idea when he saw a man quickly feeding the seagulls in the Lake of Zurich with pieces of bread.

Business success came rapidly, and new eateries were opened in Lucerne, Geneva and Lugano.

By 1965, Prager had opened his first restaurant abroad, in Germany.

Soon after, the doors of the first hotel of the group opened: the Jolie Ville Motor Inn in Zurich. The first international hotel venture was launched in 1975 with an opening in Egypt, near the Giza pyramids. It was the first of many hotels to be located outside the Swiss borders.

But for the Swiss fast food pioneer that was not enough.

The first Mövenpick brand was for coffee, and was launched onto the market in 1963. Six years later it was the turn of his world-famous ice-cream brand.

Three decades after the company’s birth, Mövenpick was trading in the Swiss stock market as a hotel, restaurant, food and wine company.

But as Prager aged, the company began to disintegrate.

In 1988, 40 years after the first opening, Prager stepped down as managing director and his wife Jutta took over.

In 1992, the company was sold to Augst von Finck, a German businessman, who sold the ice-cream brand to Nestlé and removed Mövenpick from the stock market in 2007 to turn it, once again into a family-run business.

The news broke Prager’s heart and he said at the time: “Mövenpick of today is no longer my Mövenpick”.

In the 1990s, Prager and his wife moved near London, even though they kept a castle in Silvaplana, a small village in Graubünden, where they used to spend extended periods of time.

What started as a one-man business had, at the time of the Swiss food icon’s death, more than 18,000 employees around the world, 68 restaurants, 38 hotels and a dozen motorway restaurants.

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ZURICH

Zurich homeowners to pay significantly higher property taxes

Properties are more expensive in Zurich than almost anywhere else in Switzerland, but a planned new charge will place further financial burdens on the canton’s homeowners.

Zurich homeowners to pay significantly higher property taxes

Because Zurich is re-evaluating all properties, homeowners will have to brace themselves for significantly higher tax bills from 2027, cantonal authorities announced onTuesday. 

This step was triggered by two court rulings, according to which many properties in the canton were undervalued. The last estimate took place in 2009, but real estate prices have soared by an estimated 50 percent since then.

Therefore, property tax values are to increase by an average of 48 percent, while  imputed rental values for single-family homes will rise by an average of 11 percent and for apartments by 10 percent.

With this measure, the canton and municipalities can expect additional income of 85 million each.

What is the imputed rental value?

It is a tax term used to describe the theoretical rental value that you would have to pay if you were renting your own property.

In Switzerland, this value is used to calculate taxes, even if you live in your own apartment or house and do not pay rent.

For owner-occupied apartments in the canton of Zurich, the imputed rental value is 4.25 percent of the tax value. For single-family homes, it is 3.5 percent.

Authorities get ready for more ‘hardship’ cases

As a result of this tax hike, a larger number of hardship cases — that is, people who won’t be able to afford higher property taxes — the cantonal government is calling for the introduction of a ‘hardship regulation.’

Under this measure, a tax charge on the imputed rental value should be anchored in the law if it leads to an excessive tax burden in relation to the household income and assets.

The current cantonal hardship regulation serves as a transitional solution, which is in effect until legal basis is enacted at a federal level.

READ ALSO: How fast are property prices rising in Zurich in 2024? 

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