As of December 16, the hotel on Lake Geneva will reopen as The Ritz-Carlton, Hotel de la Paix Geneva following an extensive renovation.

The hotel is owned by the Manz family, which has six hotels in Switzerland and an interest in hotels in South America.

The hotel is celebrating its 150th anniversary this year and the renovation will include reducing the number of guestrooms to 75.

“It is an honor to bring The Ritz-Carlton experience to Switzerland and to partner with the highly regarded Manz family,” said president and chief operating officer Herve Humler. “Geneva is an extremely desirable destination and we will now be able to offer a sensational travel experience to complement the full portfolio of Ritz-Carlton properties around the globe.”

Ritz-Carlton currently has 10 hotels in Europe including Tenerife, Almaty, Berlin, Herzliya, Istanbul, Moscow, Vienna, Wolfsburg, Barcelona and Portugal.

A Budapest hotel will also come under the brand early next year.