Therme Group snaps up Europe’s largest thermal bathing complex, secures €320m in financing
by Megan Whitby | 11 Dec 2024
Therme Group is developing thermal wellbeing oases in Canada, the UK, the US, South Korea and Germany / Therme Group
Therme Group has announced the acquisition of Therme Erding, Europe's largest thermal wellbeing destination
Founded by Josef Wund in 1999, Therme Erding covers 145,000sq ft and features 40 pools, 35 saunas and steambaths and 28 slides
Therme Group secured €320m in financing to complete the acquisition
The company has ambitious expansion plans and is currently engaged in active projects in South Korea, the US, the UK, Germany and Canada
Global wellbeing organisation Therme Group has acquired Therme Erding – a vast 145,000sq ft wellbeing destination located near Munich in Germany.
Recognised as one of Europe’s largest thermal wellbeing complexes, Therme Erding features a 40-pool bathing oasis, 35 steam baths and saunas and 28 indoor and outdoor slides. Founded by architect and entrepreneur Josef Wund in 1999, the facility has become a cornerstone of the European wellness industry.
The acquisition builds on a long-standing relationship between the Wund family and Robert Hanea, CEO and founder of Therme Group.
To finance the deal, Therme Group secured a €320 million (US$336 million, £264 million) funding package from Macquarie Capital's Principal Finance team. Arranged by Deutsche Bank, this funding is claimed to represent one of the largest single-asset financings in the industry.
With the addition of Therme Erding, Therme Group's portfolio of wellbeing destinations is set to exceed 3.5 million annual visitors.
Therme Group also has active projects in Germany, the US, Canada, Scotland and South Korea.
Jörg Wund, CEO of Therme Erding, said: "We’ve found an established and proven partner who shares the innovative wellbeing legacy I built alongside my father. This acquisition not only honours that legacy but also ensures a vibrant and prosperous future for Therme Erding, its employees and the community it serves."
Hanea added: "As we expand globally, we’re not just growing our portfolio – we’re redefining how cities can integrate spaces that prioritise health, connection, and inclusion, making urban wellbeing accessible to all.
“By breaking away from the exclusivity of the traditional wellness sector, we aim to reimagine the sector's potential and its benefits for society as a whole.”
Alexi Antolovich, global co-head of real estate at Macquarie, commented: "Therme Erding is an exceptionally high-quality asset and we’re delighted to be able to utilise our balance sheet to partner with an experienced operator in Therme Group.
“It stands out as a best-in-class operator and developer of these specialised operating real estate assets and we’re pleased to support its growth.”
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FEATURE: Top Team – Therme Group
Global wellbeing organisation Therme Group has acquired Therme Erding – a vast 145,000sq ft wellbeing destination located near Munich in Germany. Recognised as one of Europe’s largest thermal wellbeing complexes, Therme Erding features a 40-pool bathing oasis, 35 steam baths and saunas and 28 indoor and outdoor slides. Founded by architect and entrepreneur Josef Wund in 1999, the facility has become a cornerstone of the European wellness industry. The acquisition
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