Horst Schulze was COO of the Ritz-Carlton hotel group until 2002, when, together with several former Ritz-Carlton executives, he founded the West Paces Hotel Group with the objective of setting new standards in the "de luxe tourism" service sector under the brand name ˜Capella˜. Schulze says on the positioning of the new house on Lake Wörthersee – the first ever Capella hotel to be opened officially: ˜With the resurrection of the legendary Schlosshotel Velden the tradition of the European Grand Hotel offering superlative personal service will be revived˜.