Canyon Ranch Forms Growth Partnership with VICI Properties, Receiving $150 Million Investment
Canyon Ranch, a pioneer in destination wellness, has announced a growth partnership with VICI Properties (NYSE: VICI), an experiential-focused real estate investment trust. The partnership aims to expand the reach of Canyon Ranch’s integrative wellness offerings across North America and beyond.
As part of this venture, Canyon Ranch will debut a destination resort and Canyon Ranch Wellness Clubs in Texas, starting with the inaugural Wellness Club opening this fall in Fort Worth. Subsequent plans include the opening of a Houston location in the summer of 2024 and the Canyon Ranch Austin resort in 2025.
The primary objective of the partnership is to establish additional destination resort locations and wellness clubs in major urban markets, as well as to enhance Canyon Ranch’s digital capabilities. This comprehensive “ecosystem” aligns with the brand’s core value of guiding people toward a well-rounded way of life.
The Canyon Ranch Ecosystem fosters a network of resorts, clubs, and digital experiences, allowing guests to continually deepen their engagement with a well way of life. The upcoming Canyon Ranch Austin development will be situated on a scenic hill country ranch along Lake Travis, designed by Lake / Flato Architects.
Additionally, the two Wellness Clubs in Fort Worth and Houston, which are exclusively membership-based, will offer state-of-the-art fitness facilities, luxurious spas, lounges, coworking spaces, lectures, and events, fostering a community of like-minded peers.
Jeff Kuster, CEO of Canyon Ranch, expressed enthusiasm for the partnership with VICI Properties, as it enables Canyon Ranch to expand its geographical and digital offerings, touching the lives of more individuals than ever before.
VICI Properties’ CEO, Edward Pitoniak, emphasized their focus on experiential real estate investments, particularly in areas benefitting from long-term secular trends. He sees wellness as one of the most powerful trends of our time, and believes Canyon Ranch is best positioned to capitalize on the growing demand for wellness and life enhancement worldwide.
John Goff, Chairman of Canyon Ranch, shared his excitement for partnering with VICI, recognizing the potential to accelerate their growth in an “asset light” manner, expanding their reach and expertise.
The initial investment by VICI Properties in Canyon Ranch took place in October 2022, with VICI providing development financing for the Canyon Ranch Austin resort, which is currently under construction and expected to open its doors in 2025.
Canyon Ranch boasts over four decades of experience in wellness guidance, inspiring guests to pursue a lifetime of well-being. The resorts offer a unique experience for each guest, with over 1,500 services available, blending ancient wisdom with modern technology.
The world-class experts at Canyon Ranch integrate services across various disciplines, including nutrition, sports & performance, spa, mental health, and spirituality, among others, providing guests with personalized insight, skills, and motivation for long-lasting transformation.