US investor takes over Waldhaus Flims
The American investment company Z Capital Group is acquiring the Parkhotel Waldhaus in Graubünden. According to media reports, Z Capital is paying CHF 40 million for the five-star hotel, which is considered one of the most prestigious hotels in the canton of Graubünden but went bankrupt in April of this year. The estimated price of the hotel is CHF 69 million.
The new investor is not disclosing the purchase price, but is announcing extensive investments. The 150 hotel rooms are to be upgraded to such an extent that the resort can be raised to the level of a "luxurious five-star hotel", as Z Capital writes in a press release. The spa and fitness area is to be supplemented by a medical wellness department. The gastronomic concept is also to be expanded.
Z Capital Partners is the private equity investment management division of Z Capital Group, an alternative asset management firm with approximately USD 2.3 billion in assets and offices in the US and Zurich.
Z Capital's investors include global sovereign wealth funds, endowments, pension funds, insurance companies, foundations, family offices and other financial institutions in North America, Europe, Asia, Africa and the Middle East.
Z Capital has invested in a number of hotels, including the Carillon Miami Beach, which the company acquired this year. (ah)
