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.