Z Capital Partners Completes Major Renovation of The Waldhaus Flims Alpine Grand Hotel & Spa in Switzerland

NEW YORK, N.Y. and FLIMS, SZ. December 20, 2016 - The Waldhaus Flims Alpine Grand Hotel & Spa ("Waldhaus Flims") (aka The Waldhaus Flims Mountain Resort & Spa), today announced the completion of major renovations to enhance the resort to a five-star luxury hotel and spa and to restore the Waldhaus Flims to a dominant position in the Swiss market.

Since acquiring the Waldhaus Flims in December 2015, Z Capital Partners, L.L.C. ("Z Capital Partners"), the private equity management arm of Z Capital Group, L.L.C. ("Z Capital"), a leading alternative asset management firm with $2.2 billion in regulatory assets under management across complementary private equity and credit businesses, has brought in new management and completed major renovations in four months to reopen in time for the winter season. The renovation included remodeling the lobby and guestrooms of the Grand Hotel and Villa Silvana, expanding the spa through the addition of world-class treatment rooms and a modernized fitness facility, renovating meeting and events space, redesigning restaurant concepts and introducing vastly improved technology across the resort. Z Capital's investment will once again make the Waldhaus Flims a sought after resort for tourists and, with its beautiful Belle Époque Pavilion, a destination for large groups, corporate events and weddings.

"We are very proud of quickly completing the renovations to the Waldhaus Flims, and our growing team of 190 staff members is excited to reopen ahead of the winter season to share this iconic property and its amenities with guests for years to come," said James Zenni, President and Chief Executive Officer of Z Capital. "Along with the Waldhaus Flims' rich traditions and history, the upgrades made to the property solidify its standing as a world-class resort with five-star luxury amenities, a premier spa facility with a renowned wellness center and the region's best event space, situated among the beautiful Swiss Alps in an ideal location with easy access to several major cities across Europe, including those in Switzerland, Southern Germany, Austria and Italy."

To mark the reopening of the Waldhaus Flims, the resort hosted a community event and ribbon-cutting ceremony to unveil the renovated property on December 9, 2016, attended by regional government leaders and other local business and community guests. Waldhaus Flims also announced that it will renovate the Chalet Belmont in spring 2017.

Originally established as an alpine summer destination spa hotel in 1877, the Waldhaus Flims is situated in the resort town of Flims, approximately 140 kilometers from Zurich in the heart of the Swiss Alps. The hotel is located in the distinguished tourist destination of Flims Laax Falera in the canton of Grisons. In addition to world-class skiing and snowboarding, guests can access a premier golf course, outstanding hiking and mountain biking trails and pristine lakes such as nearby Lake Caumasee, known for its curative properties. The region is also home to rich alpine scenery, including the Rhine Gorge, popularly known as the Swiss Grand Canyon, and the Tectonic Arena Sardona, a UNESCO World Heritage site. The resort also boasts a five-star spa that features a modern fitness facility, multiple rejuvenating pools and world-class treatment rooms that combine to provide the most innovative aspects of spa and wellness culture.

For more information on the Waldhaus Flims Alpine Grand Hotel & Spa, please visit http://waldhaus-flims.ch/en; for photos of the property, please visit http://waldhaus-flims.ch/en/gallery.

About Z Capital Partners

Z Capital Group, L.L.C is a leading alternative asset management firm with $2.2 billion in regulatory assets under management across complementary private equity and credit businesses. Z Capital manages both opportunistic, value-oriented private equity and credit funds with offices in New York, NY; Lake Forest, IL; and Zurich, Switzerland. Its investors include prominent global sovereign wealth funds, endowments, pension funds, insurance companies, foundations, family offices, and other institutions in North America, Europe, Asia, Africa and the Middle East. For more information, please visit www.zcapgroup.net.

About Waldhaus Flims

The Waldhaus Flims Alpine Grand Hotel & Spa is a historic, alpine resort located in the town of Flims, approximately 140 kilometers from Zurich in the heart of the Swiss Alps. Opened in 1877, the Waldhaus Flims exemplifies the successful integration of tradition and innovation in the art of hospitality. The resort offers an array of winter and summer activities including skiing, snowboarding, golfing, hiking and mountain biking. The Waldhaus Flims has nearly 150 rooms, features a leading spa and wellness program that includes a fitness center and more than 13 treatment rooms, renowned restaurants and lounges and offers the largest event space in the region. For more information, please visit www.waldhaus-flims.ch/en.

Contact:
Jonathan Keehner / Julie Oakes / Tim Ragones
212-355-4449

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