Z Capital Approved as Successful Bidder in Sale of Canyon Ranch Hotel & Spa in Miami Beach

Property to be Flagship of New Five-Star Hotel Flag

• 
  SAVE
• 
  SHARE
• 
  TEXT SIZE
• 
  PRINT
• 
  COMMENT
• 
  PDF

. December 04, 2014

LAKE FOREST, IL - December 4, 2014 /PRNewswire/ - Z Capital Partners, L.L.C. ("Z Capital"), a leading private equity firm, today announced that the United States Bankruptcy Court Southern District of New York has entered a Sale Order approving Z Capital as the successful bidder in the auction process for the Carillon Hotel and Spa, which is currently operated and managed as Canyon Ranch Hotel & Spa in Miami Beach (http://www.canyonranch.com/miamibeach/).

The Carillon Hotel and Spa property will be the first project of Z Capital's new venture to create a premier, luxury flag with exclusive locations around the world.

"We are extremely pleased to have been approved by the bankruptcy court in the acquisition of the Carillon Hotel & Spa in Miami Beach," said James Zenni, President and Chief Executive Officer of Z Capital. "This is an exceptional property, with exquisite grounds and unparalleled amenities in an iconic location. We appreciated the elegance and standards associated with this world-class property and are fully committed to further enhancing the oceanfront resort to exceed the expectations of all Canyon Ranch constituents. With our proven team of operators, led by Z Capital Operating Partner Thomas Wicky, and our strategic partnerships in luxury hotel management and development, we will create an unrivaled property and to showcase our brand and luxury offerings for future portfolio additions around the world."

"We are thrilled to have the opportunity to enhance a truly unique property," commented Thomas Wicky, Managing Director and Operating Partner at Z Capital. "Our exceptional team comprised of industry-leaders with global reach and deep local connections demonstrates our commitment to ensuring that every resident and guest has a world-class experience at this premier property. The Carillon Hotel and Spa will be our first project in our exciting, new venture, and I am confident that our team will successfully work alongside existing homeowners to elevate the property for the benefit of all. We are excited to get started in establishing our luxury hotel flag around the world. "

The "Order (I) Approving Sale of Debtors' Property; (II) Authorizing Assumption and Assignment of Executory Contracts and Unexpired Leases; and (III) Granting Related Relief" was entered in the bankruptcy case of FL 6801 SPIRITS LLC, et al. on November 26, 2014.

About Z Capital Partners

Z Capital Partners, L.L.C. ("Z Capital") is a leading private equity firm with approximately $1.9 billion of regulatory assets and committed capital under management and with offices in Lake Forest, IL and New York, NY. Z Capital pursues a value-oriented approach in private equity that includes making control investments in companies that may require growth capital, balance sheet and or operational improvements.

Z Capital portfolio companies currently have aggregate worldwide annual revenues of approximately $1.5 billion, sell products in over 30 countries, and have in excess of 190,000 associates directly and through joint ventures.

Z Capital's investors include prominent global sovereign wealth funds, endowments, pension funds, insurance companies, foundations, family offices, wealth management firms and other financial institutions in North America, Europe, Asia, Africa and the Middle East. For more information, please visit http://www.zcap.net/.