Z Capital adds world-class luxury property to portfolio; Property to be flagship of new five-star hotel flag.
LAKE FOREST, ILL. – Z Capital Partners, L.L.C., a leading private equity firm, 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.
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.
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