It had 350 guest rooms and a height of 85 metres (279 ft), making it the tallest hotel in Zürich.

[2][7] On St Valentine's Day (February 14) of 1988, there was a major fire in the hotel, which resulted in the deaths of four guests and two members of staff.

The fire originated in the Panorama Grill on the 31st floor of the hotel, and was caused by self-ignition while refilling an alcohol-fuelled food heater.

In November 2014, the hotel's main lobby was renovated with a new modern-inspired design [4] On August 26, 2013, the building was put on the inventory list of Zürich's city council for historic preservation.

[2][10] The hotel closed in November 2020, due to the economic impact of the COVID-19 pandemic and was converted to student dorms.