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Canyon Ranch receives additional US$150m investment from VICI Properties to fund expansion
By Megan Whitby 28 Jul 2023
Canyon Ranch's current portfolio includes destinations in Tucson, Arizona, Lenox, Massachusetts, Woodside, California and Las Vegas, Nevada Credit: Canyon Ranch
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.”


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Art of Cryo
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NEWS
Canyon Ranch receives additional US$150m investment from VICI Properties to fund expansion
POSTED 28 Jul 2023 . BY Megan Whitby
Canyon Ranch's current portfolio includes destinations in Tucson, Arizona, Lenox, Massachusetts, Woodside, California and Las Vegas, Nevada Credit: Canyon Ranch
Credit: Eric Vitale
With VICI’s support, we can broaden and deepen Canyon Ranch’s geographical and digital offerings and support more people than ever before
– 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.”
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Global Wellness Day 2024 shatters records as 1 billion people unite for wellness and nature
Global Wellness Day (GWD) marked its 13th anniversary on Saturday, 8 June and was reportedly celebrated by a record-breaking 1 billion people worldwide, making it the most successful year yet.
Deepak Chopra-backed wellness resort Ameyalli to open among historic Utah hot springs
Wellness industry figure Deepak Chopra is co-developing a new wellness community and resort focused on wellbeing and longevity in Utah’s Heber Valley, centred around natural geothermal springs.
László Puczkó joins Ensana as senior health spa advisor
European health spa operator Ensana has announced the strategic appointment of Dr László Puczkó as senior health spa advisor.
EU funds Great Spa Towns of Europe youth project to foster intercultural dialogue among spa towns
The Great Spa Towns of Europe (GSTE) has announced the successful approval of its funding application under the European Town Twinning Programme. This funding will support a year- long project named INTERSPACE, aimed at fostering intercultural dialogue among communities within the GSTE network.
Gen Z women are more engaged with physical activity than previous generations, finds Ernst & Young research
According to new research from Ernst & Young, the gap between female and male engagement in sport and physical activity is narrowing, with Gen Z adult female engagement figures on the rise.
Ritz-Carlton Reserve to land in South America with tropical retreat in Rio de Janeiro
Marriott is set to bolster its exclusive Ritz-Carlton Reserve portfolio with a brand new property in South America in Costa do Sol, Rio de Janeiro.
+ More news   
 
COMPANY PROFILES
Gharieni Group

Gharieni is positioned as one of the most innovative players in the wellness industry – creating unp [more...]
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