As of January 15, 2015, Canyon Ranch no longer manages the hotel at 6801 North Collins Avenue, Miami Beach, following a decision by Z Capital Partners, the new owner of the property formerly known as Canyon Ranch Hotel & Spa.
In December 2014, the U.S. Bankruptcy Court approved sale of this property to Z Capital Partners by the former owner, Lehman Brothers, as part of the breakup of Lehman's assets required to meet its obligations to creditors from its 2008 bankruptcy. Canyon Ranch was the contracted manager of the property up until the closing of the sale, and our attempts to negotiate a new contract agreement with the new owner were unsuccessful.
Please be assured that Z Capital Partners' decision to not enter into a new management agreement with Canyon Ranch has no effect upon any other Canyon Ranch location, or upon expansion plans of Canyon Ranch, either domestically or abroad.
To our loyal guests, we express our sincere appreciation and invite those who experienced the Canyon Ranch lifestyle in Miami Beach to visit one of our other wonderful locations. Stay tuned for announcements of future growth.
We look forward to seeing you soon.
Ovadia Saadia, from Sao Paulo, Brazil
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