The iconic Swiss hotel Waldhaus Flims is undergoing a CHF40m (US$40m, €36m, £28m) renovation aimed to maintain the property’s storied heritage while enhancing the resort to a luxury alpine hotel and spa.

The 150-bedroom hotel was acquired by Z Capital Partners – the same company that also recently acquired wellness hotel Carillon Miami Beach – in December, marking the group’s first international expansion.

The renovation is being undertaken by Hong Kong-based interior design firm Peter Silling & Associates, and will add three additional treatment rooms to the spa, bringing the total to 11, as well as a new luxury spa suite for couples. The fitness room will also double in size from 65sq m (700sq ft) to 140sq m (1,507sq ft).

The lobby and guestrooms of the Grand Hotel, Villa Silvana and Chalet Belmont will also be remodeled, and upgrades to the meeting and events space, redesigned restaurant concepts and improved technology across the resort are also part of the renovation.

“The renovation will establish the Waldhaus Flims as the premier destination resort in the Swiss Alps,” said Peter Schoch, managing director of the Waldhaus Flims. “We plan to combine the renowned traditions of the property with incomparable guest services and amenities to deliver an unparalleled experience to visitors of this truly exceptional destination, and look forward to maximising its full potential.”

The Waldaus Flims was first opened in 1877, and was featured in the recently-released film Youth, where the landscape, alpine views and spa are all highlighted. The film stars Michael Caine, Harvey Keitel, Jane Fonda and Rachel Weisz.

The hotel will close in early September to commence the renovations, and is scheduled for a December re-opening.