ISPA Conference & Expo
ISPA Conference & Expo
ISPA Conference & Expo

Spa people

Rakesh Patel

Hospitality asset prices are dislocated due to the pandemic, which provides an interesting point in the cycle to invest


At a time when companies in the hospitality sector are facing unprecedented challenges, private equity firm Alta Capital Real Estate has grasped the opportunity to invest in undervalued wellness hospitality assets across Asia-Pacific.

It recently launched the Alta Hospitality Fund Asia with the aim of “repositioning, rebranding and redeveloping assets for the post-COVID world in order to deliver solid returns”. It aims to create a portfolio value of US$50m (€42m, £36m) and deliver a return of 15-25 per cent over six years.

The fund is being helmed by former HSBC head of equities for Asia-Pacific, Rakesh Patel, who decided to launch it because it’s timely to do so, but also because he has a personal passion for wellness stemming from an ‘incurable’ illness as a teenager which he overcame by following the Gerson Therapy regime.

“Hospitality asset prices are dislocated due to the pandemic, which provides an interesting point in the cycle to invest,” he explains, “plus, we’re predicting accelerated growth in wellness in the future, because people have become increasingly conscious of their physical and mental wellbeing.”

Alta quotes GWI figures, reporting that the wellness tourism market is projected to achieve a compound annual growth rate of nearly 7 per cent between 2020 and 2025, reaching US$1.1bn (€923.8m, £792.6m) in revenues by 2025.

Consequently, Patel argues it makes good sense to reposition assets for this structural trend, saying: “acquiring assets at this point helps us manage our downside risk while giving us an attractive upside reward.”

The company won’t invest in standalone spas, but will focus on hospitality assets that either already have an existing wellness component or could be repositioned that way. It has a particular interest in acquiring boutique hotels, wellness retreats and villa communities with 50-150 keys and already has its sights set on a property in Bali, as well as a development in Galle, Sri Lanka with a “premier wellness retreat”.

Patel – himself a trained LEED professional – believes consumers are not only looking for more meaningful travel that incorporates traditional and modern wellness practices and authentic local experiences, but that they’re also increasingly mindful of brands’ approach to the environment, their employees and their attitude towards the communities in which they operate.

To this end, both wellness and sustainability will be at the heart of Alta’s investment strategy. Each project will operate sustainably, incorporating smart-building design elements, such as water recycling, energy efficiency and proper site orientation to boost operating efficiency and minimise CO2 emissions.

Gallery
Click on an image to open the image gallery
company profile
Company profile: Global Project & Spa Advisory
We focus as much on profitability as we do on customer experience, in the definition of global wellness services. Daily wellness is a trend we support. We define personalised services, integrating health prevention and all experiences that enhance the sustainability of one’s wellbeing.
Try cladmag for free!
Sign up with CLAD to receive our regular ezine, instant news alerts, free digital subscriptions to CLADweek, CLADmag and CLADbook and to request a free sample of the next issue of CLADmag.
sign up
features
Kohn Pederson Fox’s 815 Water Street has just broken ground
"Now we’re talking about pedestrians as the most important members of the street community"

The new US neighbourhood designed to improve the health of its residents

Manica are working on a new home for a future NFL team in Carson City, Los Angeles
David Manica founded Manica Architecture in 2007
"The SEED concept works toward the legacy solution as a starting point"

Rethinking the stadia legacy challenge

Richard’s Meier’s practice has offices in New York and Los Angeles, and is led by Meier and five partners
Richard Meier received his architectural training at Cornell University and set up his practice in 1963
"Developers today have no incentive to create public space"

The American modernist architect on his latest project and his love of the colour white

Catalogue Gallery
Click on a catalogue to view it online
To advertise in our catalogue gallery: call +44(0)1462 431385
features
The Wuhan Movie Theme Park
Ray Winkler (left) and Cristina Garcia (right)
"Mark definitely wasn’t a minimal architect – his designs were outrageous, big, splashy, noisy and extravagant"

The Wuhan Movie Theme Park and Han Show Theatre

Ruya opened in Dubai in November 2016
Norden studied architecture at Westminster, before joining C&P in 1997. She completed her MA at the Royal College of Art in 2000
"We didn’t want in-your-face sporting references; just subtle things that allow you to tell a story"

The Conran & Partners director outlines the trends shaping hospitality design

Our vision is to facilitate reconciliation, through the essential values of cricket
RCSF
"The inspiration for the design comes from the green rolling hills of Rwanda and the trace of a bouncing cricket ball - Michael Ramage"

The people creating a pioneering cricket stadium that’s helping to heal wounds in Rwanda

features
The Pritzker Prize jury commended Aravena’s dedication to improving urban environments
"Cities are measured by what you can do in them for free"

This year’s Pritzker Prize winner on the importance of leisure

The Hilversum Media Park puts ‘culture at the heart of the community’
Bos studied history of art in London and urban and regional planning at the University of Utrecht, Netherlands
"I like art that is against the mainstream, slightly off, with a twist"

UNStudio’s co-founder on the unexpected challenges of designing Australia’s tallest skyscraper

cladkit product news
Jaffe Holden helps bring Academy Museum of Motion Pictures alive
Jaffe Holden provided architectural acoustics for the Academy Museum
Magali Robathan
Acoustical consulting firm Jaffe Holden provided architectural acoustics and audio/video design services for the recently opened Academy Museum of Motion ...
Codelocks develops new glass door smart lock
The new lock model allows facilities and building managers to create and manage access via an app or online portal
Megan Whitby
Codelocks has launched its first glass door smart lock to bring intelligent access control to modern spa, leisure, fitness and ...
Alberto Apostoli designs tech-forward Wellness Therapy furniture collection for Varaschin
The furniture collection draws on absolute geometries, pure lines, neutral colours and strong references to nature
Megan Whitby
Furniture manufacturer Varaschin has unveiled the new Wellness Therapy range, designed by Italian spa and wellness architect and designer Alberto ...
cladkit product news
Eco Resort Network conference to convene in Mauritius this May
The event will be hosted in the Mauritius in 2024
Megan Whitby
Hospitality industry event Eco Resort Network is set to take place at the Ravenala Attitude Hotel, Turtle Bay, Mauritius, from ...
Siminetti unveils iridescent decorative panelling range inspired by plants
The Clematis design
Megan Whitby
The Botanicals is Siminetti’s newest Mother of Pearl decorative panelling collection, inspired by the distinctive patterns found in botany and ...
Mather & Co and ITV unite to create Coronation Street Experience
Mather & Co has transformed the visitor centre into the ultimate haven for ardent Coronation Street viewers
Magali Robathan
Experience designers, Mather & Co, have orchestrated a remarkable collaboration with ITV to unveil the new Coronation Street Experience, a ...
cladkit product news
Koto Design introduces wood-fired hot tub
Koto is known for crafting modular, energy-neutral cabins and homes
Katie Barnes
A striking wood-fired hot tub has been unveiled by Koto, an architecture and design studio which has a passion for ...
Eden project uses drones to spell out climate change warning
Magali Robathan
Almost 300 drones were used to signal an environmental message above the Eden Project’s biomes, during the UN Climate Change ...
Alberto Apostoli and Newform collaborate to launch the A.Zeta showerhead
The showerhead offers two modes; rainfall or waterfall
Megan Whitby
Italian architect Alberto Apostoli has renewed his partnership with Newform – an Italian wellness company – and designed A.Zeta. A.Zeta ...
ISPA Conference & Expo
ISPA Conference & Expo