Canyon Ranch Secures $150M Investment for Wellness Clubs
Canyon Ranch will look to add destination resort locations and wellness clubs in major urban markets while expanding its digital capabilities
Canyon Ranch, a wellness resort company, announced a “growth partnership” with VICI Properties that includes a $150 million investment meant to expand the brand’s integrative wellness offerings across North America and beyond.
The destination wellness pioneer recently identified Texas as its debut location for a Canyon Ranch Wellness Club, anticipated to open in Fort Worth this fall. A Houston location is slated for the summer of 2024 and a Canyon Ranch Austin resort expected to open in 2025.
Canyon Ranch says the long-term partnership with the real estate investment trust will create an “ecosystem,” adding destination resort locations and wellness clubs in major urban markets while expanding its digital capabilities. VICI initially invested in Canyon Ranch in 2022, providing development financing for the upcoming Austin resort.
“Over the last forty years, Canyon Ranch has been meeting people where they are 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.”
The Fort Worth and Houston clubs will be membership-based, featuring fitness zones, spa facilities, lounges, co-working spaces, lectures and events. Canyon Ranch confirms that its upcoming Austin location will be located on a country ranch on the shores of Lake Travis, designed by Lake/Flato Architects.
“At VICI we seek to invest in experiential real estate centered on experiences benefitting from longer-term secular tailwinds,” said Edward Pitoniak, CEO of VICI Properties. “We believe wellness is one of the most powerful trends of our time, and Canyon Ranch is the global brand best positioned for capitalizing on the growing demand for wellness and life enhancement around the world.”
The global wellness tourism market size is expected to reach $2.1 trillion by 2030, according to ResearchandMarkets.com, with younger consumers eager to book vacations centered on relaxation and wellness.
