19 Jan 2015
Miami Beach no longer operated by Canyon Ranch after stalled contract talks
BY Helen Andrews
Canyon Ranch no longer manages the Miami Beach property, as of January 15, following a failure to renegotiate a new contract agreement with the new owner Z Capital Partners.
In December 2014, the US Bankruptcy Court approved the sale of the property to Z Capital Partners by the former owner, Lehman Brothers, as part of the break-up of Lehman’s assets – required to meet its obligations to creditors from its 2008 bankruptcy.
Canyon Ranch maintains that Z Capital Partners’ decision not to enter into a new management with Canyon Ranch has no effect on other Canyon Ranch locations or on expansion plans domestically or abroad.
The hotel is now known as The Carillon Hotel & Spa and is home to a 70,000sq ft (2,044sq m) spa with 22 treatment rooms and a full service beauty salon.
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