Canyon Ranch receives additional US$150m investment from VICI Properties to fund expansion
– Jeff Kuster
Destination wellness brand Canyon Ranch has expanded its partnership with VICI Properties, an experiential-focused real estate investment trust, to expand its offering across North America and beyond.
In 2023, The Canyon Ranch brand encompasses three destination wellness resorts in Tucson, Lenox (Massachusetts) and Woodside (California) respectively, as well as a day spa and fitness centre in Las Vegas, Nevada.
Thanks to the recent deal, VICI has provided Canyon Ranch with US$150m (€137m, £117m) in funding to grow its portfolio.
This follows an initial US$200m (€205m, £179m) investment by the trust in October 2022 when VICI announced its commitment to providing development financing for the upcoming Canyon Ranch Austin resort, which has begun construction and is scheduled to open in 2025.
Canyon Ranch will also use the funding to strengthen its portfolio with two new urban membership-based Canyon Ranch Wellness Clubs. The inaugural location will open in Q3 in Fort Worth, with a Houston destination in the summer of 2024.
Both clubs will provide access to premium spa and fitness facilities, lounges and coworking spaces, lectures and events.
Canyon Ranch says the fundamental purpose of its partnership with VICI is to create a Canyon Ranch Ecosystem by creating additional destination resort locations and wellness clubs in major urban markets and expanding the brand’s digital capabilities.
The brand explained that the ecosystem will create a reinforcing network of resorts, clubs and digital experiences where guests can continue to 'deepen their engagement in a well way of life'.
“Over the last 40 years, Canyon Ranch has been meeting people where they’re in their pursuit of wellness,” said Jeff Kuster, CEO of Canyon Ranch, “that may mean a relaxing, fun-filled weekend or a deep dive into something impactful and life-changing.
“With VICI’s support, we can broaden and deepen Canyon Ranch’s geographical and digital offerings and support more people than ever before.”
Edward Pitoniak, CEO of VICI, added: “At VICI we seek to invest in experiential real estate centred on experiences benefitting from longer-term secular tailwinds. We believe wellness is one of the most powerful trends of our time and Canyon Ranch is the global brand best positioned for capitalising on the growing demand for wellness and life enhancement around the world.”
Canyon Ranch VICI Properties Jeff KusterCanyon Ranch announces death of founder Mel Zuckerman
Canyon Ranch preps for major expansion with new destinations in Austin, Fort Worth and Houston
Canyon Ranch Lenox receives multimillion-dollar nature-inspired spa renovation
UAE’s first Dior Spa debuts in Dubai at Dorchester Collection’s newest hotel, The Lana
Europe's premier Evian Spa unveiled at Hôtel Royal in France
Clinique La Prairie unveils health resort in China after two-year project
GoCo Health Innovation City in Sweden plans to lead the world in delivering wellness and new science
Four Seasons announces luxury wellness resort and residences at Amaala
Aman sister brand Janu debuts in Tokyo with four-floor urban wellness retreat
€38m geothermal spa and leisure centre to revitalise Croatian city of Bjelovar
Two Santani eco-friendly wellness resorts coming to Oman, partnered with Omran Group
Kerzner shows confidence in its Siro wellness hotel concept, revealing plans to open 100
Ritz-Carlton, Portland unveils skyline spa inspired by unfolding petals of a rose
Rogers Stirk Harbour & Partners are just one of the names behind The Emory hotel London and Surrenne private members club
Peninsula Hot Springs unveils AUS$11.7m sister site in Australian outback
IWBI creates WELL for residential programme to inspire healthy living environments
Conrad Orlando unveils water-inspired spa oasis amid billion-dollar Evermore Resort complex
Studio A+ realises striking urban hot springs retreat in China's Shanxi Province
Populous reveals plans for major e-sports arena in Saudi Arabia
Wake The Tiger launches new 1,000sq m expansion
Othership CEO envisions its urban bathhouses in every city in North America
Merlin teams up with Hasbro and Lego to create Peppa Pig experiences
SHA Wellness unveils highly-anticipated Mexico outpost
One&Only One Za’abeel opens in Dubai featuring striking design by Nikken Sekkei
Luxury spa hotel, Calcot Manor, creates new Grain Store health club
'World's largest' indoor ski centre by 10 Design slated to open in 2025
Murrayshall Country Estate awarded planning permission for multi-million-pound spa and leisure centre
Aman's Janu hotel by Pelli Clarke & Partners will have 4,000sq m of wellness space
Therme Group confirms Incheon Golden Harbor location for South Korean wellbeing resort
Universal Studios eyes the UK for first European resort
King of Bhutan unveils masterplan for Mindfulness City, designed by BIG, Arup and Cistri
Rural locations are the next frontier for expansion for the health club sector
Tonik Associates designs new suburban model for high-end Third Space health and wellness club
Creating the 9/11 Memorial Museum in New York involved meticulous planning. Its director Alice Greenwald tells us more
Early-onset MS inspired Adria Lake to explore resilience as both a healing modality and an approach to design in the creation of her new home and company headquarters in Colorado