Acquisition to elevate iconic property to premier Swiss destination.
NEW YORK and FLIMS, SWITZERLAND – Z Capital Group, L.L.C. announced that its private equity management arm, Z Capital Partners, L.L.C., has acquired the historic Waldhaus Flims Mountain Resort & Spa in Flims, Switzerland. Z Capital plans to maintain the property’s storied heritage while enhancing the resort to a five-star luxury hotel, restoring the Waldhaus Flims to a dominant position in the Swiss market. With a leading spa on its premises, the Waldhaus Flims will further expand Z Capital’s health and wellness hotel platform, following its acquisition earlier this year of Carillon Miami Beach. Terms of the transaction were not disclosed.
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, allowing for access to major European cities, including those in Switzerland, Southern Germany, Austria and Italy. 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 Cauma, known for its curative properties. The region is also home to rich mountain 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.
The resort is featured in the recently released movie, Youth, highlighting the serene landscape, alpine views, and highly popular spa of the Waldhaus Flims. The movie, which is directed by prominent Oscar-winning filmmaker Paolo Sorrentino, premiered in the U.S. on December 4, 2015, and stars Michael Caine, Harvey Keitel, Jane Fonda and Rachel Weisz. Showcasing the property’s classic Swiss identity and striking natural scenery, the movie has been nominated for a total of 13 awards from the international press, including the Palme d’Or at the Cannes Film Festival.
Z Capital Partners’ strategy at the Waldhaus Flims includes an investment in the hotel rooms across the property to elevate the already prominent resort to a luxury, five-star asset. Their plans also include expanding the spa and fitness facility and eventually developing an integrated medical wellness component. As they did at Carillon Miami Beach, Z Capital Partners will implement a leading food and beverage program, which will feature an array of restaurants and lounges to provide guests with a taste of the local cuisine and impeccable Swiss hospitality. Upon completion of these improvements, the Waldhaus Flims will once again be a sought after resort for tourists and, with its beautiful Belle Epoque Pavilion, the hotel will be a destination for group events and weddings. Z Capital Partners will also expand the marketing reach of the hotel to target visitors in Asia, India, and the Middle East.
“We are delighted to have acquired the iconic Waldhaus Flims hotel in Switzerland,” said James Zenni, President and Chief Executive Officer of Z Capital. “This mountain resort is unlike any other in the region, boasting luxury amenities, a premier spa facility and renowned wellness center, as well as access to the exceptional array of world-class fitness and outdoor activities found in the Swiss Alps. We look forward to welcoming our future guests and joining the community surrounding this historic and culturally-rich property.”
Mr. Zenni continued, “This property represents an ideal first international acquisition for Z Capital and I am confident that the Waldhaus Flims will become a leading Swiss luxury destination. Following our acquisition earlier this year of Carillon Miami Beach, a world-class beachfront hotel and luxury spa in Miami Beach, we are positioned to leverage our expertise and ensure that the Waldhaus Flims delivers an unparalleled experience to visitors of this truly exceptional destination.”
“This resort is an ideal addition to Z Capital’s portfolio of distinguished hospitality assets,” concluded Mr. Zenni. “I am looking forward to our team elevating this historic luxury resort and spa to an even higher level by offering an unforgettable escape for our regional and international guests. The Waldhaus Flims is also a natural extension of the Carillon brand, given the shared focus on wellness and healthy living.”
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