The beginning of an institution.... Davos around 1865, in the background you can see the local church of St. Johann, still a landmark of Davos Platz today. In the right half of the picture, the Promenade simply winds its way through the Davos landscape. At the blue dot, the Tobelmühle on the Tobelbach, our origin. Today the stream flows under the Tobelmühlestrasse. Tempora mutantur - times are changing....