This is the famous Mardis Gras building. And yes, Mardis Gras happens in Europe too. Again this is the celebration just before Ash Wednesday. Lucerne is a (nominally) Catholic town with Catholic cathedrals downtown, where as Zurich has only Protestant churches downtown, including Zwingli’s Grossmunster.
Today this is the Hotel of the Scales— i.e. the building was once a judicial building, a court.
Even the door frames are ornate.