Canyon Ranch in Miami Beach to be renamed, will lose former affiliation

Miami /
Jan.January 12, 2015 05:12 PM

Canyon Ranch Hotel & Spa in Miami Beach will be renamed The Carillon Hotel & Spa when Z Capital Partners closes on its purchase, as early as this week, The Real Deal  has learned. The resort will lose its former affiliation with Canyon Ranch.

In a letter emailed to residents and obtained by TRD, Z Capital Partners’ Managing Director and Operating Partner Thomas Wicky said the Chicago-based private equity firm is “working through licensing and administrative matters” as it expects to close the purchase “very soon.” Requests for interviews with Z Capital were denied, pending the closing.

Z Capital won bankruptcy court approval in New York in November 2014 to take over Canyon Ranch Hotel & Spa, at 6801 Collins Avenue in Miami Beach — including the right to run hotel operations, according to court records. Z Capital Partners bid $21.6 million in August 2014, and took control over the hotel’s 13 unsold units, the hotel’s common area, spa, pools, retail spaces and gym. Condominium associations opposed the auction results and had filed a lawsuit against the bankruptcy debtor.

Once Z Capital takes possession, it will immediately change the name of the property, which was formerly called the Carillon. The resort will be managed by a new joint venture created by Z Capital, together with Adrian Zecha, founder of Amanresorts and GHM Hotels and Jonathan Breene, developer and creator of The Setai, South Beach, Wicky said in the letter.

“We plan on retaining the entire on-site Canyon Ranch employee team,” he wrote. “Once we have had the opportunity to refresh some of the spaces on the property, we will fully rebrand later this year and launch a new five-star flag operated by our joint venture.”

Wicky’s background includes managing properties such as The Breakers in Palm Beach, and he said that each partner in the venture “brings years of experience building tremendous value at similar world-class resorts.”

Wicky said that Z Capital had hoped to retain Canyon Ranch at the property, but “unfortunately, due to circumstances outside of our control, specifically related to the ongoing disputes between the condominium associations, the former property owner and Canyon Ranch, retaining Canyon Ranch at this property was not a viable option.”

The waterfront resort will continue to offer amenities including a spa facility and a gym and various fitness activities. Other plans, according to the letter, include redefining and enhancing the restaurant offerings, developing a viable retail destination and updating the hair salon, Wicky wrote.


Related Articles

arrow_forward_ios
A photo illustration of 12203 Tillinghast Circle in Palm Beach Gardens (top) and 6300 North Bay Road in Miami Beach (Getty Images, Old Palm Golf Club, Coldwell Banker)
Flipping crazy: South Florida’s top resi flips of the year so far, ranked
Flipping crazy: South Florida’s top resi flips of the year so far, ranked
Don Peebles, in partnership with former Miami Beach Mayor Philip Levine and developer Scott Robins, wants to build a six-story office and apartment building on a city-owned parking lot (Rendering courtesy of 1664 Meridian Ave General Partner LLC)
Miami vs NYC: A developer’s guide
Miami vs NYC: A developer’s guide
From left: Monroe Capital’s Theodore Koenig, Steve Witkoff, HFZ's Ziel Feldman and Benny Shabtai with the Shore Club (Monroe, Witkoff, HFZ, Getty)
Judge awards $5M to Israeli mogul in HFZ lawsuit over failed Shore Club project in Miami Beach
Judge awards $5M to Israeli mogul in HFZ lawsuit over failed Shore Club project in Miami Beach
Prive at 5000 Island Estates Drive in Aventura (Condo.com, getty)
Privé in Aventura closing tops Miami-Dade’s weekly condo sales
Privé in Aventura closing tops Miami-Dade’s weekly condo sales
Carillon Miami Wellness Resort at 6801 Collins Avenue in Miami Beach (Google Maps, Getty)
Z Capital loses attempt to slap Miami Beach condo owners with $8M assessment
Z Capital loses attempt to slap Miami Beach condo owners with $8M assessment
Juan Jose Zaragoza and Fernando Perez-Hickman with 429 Lenox Avenue (LinkedIn, Google Maps)
Madrid-Miami JV buys WeWork leased office building in South Beach for $37M
Madrid-Miami JV buys WeWork leased office building in South Beach for $37M
Austin Rosen and 6417 Pine Tree Drive Circle (Zillow, Getty)
Hit repeat: Music exec Austin Rosen buys next-door waterfront Miami Beach home for $12.5M
Hit repeat: Music exec Austin Rosen buys next-door waterfront Miami Beach home for $12.5M
Jamestown CEO Matt Bronfman and the 727 Collins Apartments at 727 Collins Avenue in Miami Beach (Getty, Google Maps, Jamestown)
Former low-income South Beach apartments hit market as possible hotel conversion
Former low-income South Beach apartments hit market as possible hotel conversion
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...