Z Capital Named Successful Bidder for Canyon Ranch Hotel & Spa in Miami Beach - KHGI-TV/KWNB-TV/KHGI-CD-Grand Island, Kearney, Hastings

Z Capital Named Successful Bidder for Canyon Ranch Hotel & Spa in Miami Beach

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SOURCE Z Capital Partners, L.L.C.

Z Capital Affirms Commitment to Enhance World-Class Property

LAKE FOREST, Ill., Aug. 25, 2014 /PRNewswire/ -- Z Capital Partners, L.L.C. ("Z Capital"), a leading private equity firm that makes opportunistic, long term investments in companies that may require growth capital, operational turnaround or restructuring, was named the successful bidder in the auction process for the Carillon Hotel and Spa owned by FL 6801 Spirits LLC and its subsidiaries which is currently being operated and managed as Canyon Ranch Hotel & Spa in Miami Beach, a world-class beachfront boutique hotel & luxury spa.

"We are extremely pleased to have been named the successful bidder of Canyon Ranch Hotel & Spa in Miami Beach," said James Zenni, President and Chief Executive Officer of Z Capital. "Z Capital is fully committed to maintaining this exquisite facility and we will work passionately to uphold the high standards that guests have come to expect from Canyon Ranch Miami Beach. We recognize our responsibilities to all stakeholders and I am confident that our team will successfully work alongside existing constituents, including the home owners in Canyon Ranch, to further enhance this world-class property. We look forward to proceeding with the legal process and receiving final approval of the sale in an efficient manner."

Mr. Zenni further added, "Z Capital has an extensive team, which includes Thomas Wicky, who has global expertise in hotel operations, with forty years of experience managing premier resorts and luxury hotels, including with The Boca Raton Hotel & Club, The Breakers Palm Beach, The Cloister at Sea Island, Georgia, The Spas & Grand Hotels Bad Ragaz and Fisher Island in Miami. We are confident we will be able to successfully leverage Tom's award-winning experience to elevate Canyon Ranch in Miami for the benefit of all the property's constituents."

The Debtors filed a "Notice Of: (I) Successful Bidder And Second Highest Bidder At Auction For Sale Of Debtors' Assets; (II) Status Conference On August 27, 2014; and (III) Adjournment Of Sale Hearing To September 12, 2014" in the bankruptcy cases of FL 6801 SPIRITS LLC, et al. on August 21, 2014.

About Z Capital Partners
Z Capital Partners, L.L.C. ("Z Capital") is a leading private equity firm with approximately $1.7 billion of regulatory assets and committed capital under management and with offices in Lake Forest, IL and New York, NY. Z Capital pursues an opportunistic, value-oriented approach in private equity that includes making control investments in middle-market companies that may require growth capital, turnaround, restructuring or other special situations.

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/.

Joele Frank, Wilkinson Brimmer Katcher
Jonathan Keehner / Casey Landau

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