Seasoned Hospitality Executive to Manage Operations at Historic Mountain Resort

FLIMS, Switzerland, March 21, 2016 — The Waldhaus Flims Mountain Resort & Spa (the "Waldhaus Flims") today announced that Peter Schoch will join as Managing Director effective April 1, 2016. This follows the acquisition of the Waldhaus Flims in December 2015 by Z Capital Partners, L.L.C. ("Z Capital Partners"), the private equity fund management arm of Z Capital Group, L.L.C. ("Z Capital"). Mr. Schoch will oversee the day-to-day operations of the historic resort and the anticipated renovations, as well as the implementation of strategy under Z Capital Partners' ownership.

Mr. Schoch has more than 30 years of experience in the hospitality sector. Most recently, he was the Executive Vice President and a founding member of the Capella Hotel Group, which was established with the vision of creating exceptional hotels and resorts around the world catering to highly discerning travellers. At Capella Hotel Group, Mr. Schoch was responsible for overseeing all aspects of operations, including technical services, sales, marketing and quality improvement. Prior to creating the Capella Hotel Group, Mr. Schoch worked in the corporate office at The Ritz-Carlton Hotel Company.

"Peter has unparalleled experience in the luxury resort industry and I am delighted to welcome him to our team," said James Zenni, President and Chief Executive Officer of Z Capital. "His deep industry knowledge and operating experience will be instrumental as we look to renovate and enhance the outstanding Waldhaus Flims property, create a culture of excellent client service and expand our dining, spa and wellness offerings. I am confident that Peter's track record of execution, combined with his understanding of the local Swiss culture and marketplace, will enable us to restore the Waldhaus Flims into a premier Swiss luxury destination."

Mr. Schoch commented, "The iconic Waldhaus Flims, situated in the heart of the Swiss Alps, is a resort with a rich and storied heritage. I look forward to working with Z Capital and the entire staff at the Waldhaus Flims to elevate the property, the amenities and our service offerings to provide our guests with a world-class experience. This is an exciting time for the Waldhaus Flims and I am confident it will become a sought-after destination for both Swiss and international tourists."