Canyon Ranch, a pioneer in destination wellness, announced the Canyon Ranch–VICI Growth Partnership with VICI Properties, an experiential-focused real estate investment trust, aiming to expand the reach of Canyon Ranch's integrative wellness offerings across North America and beyond.
WHO: The original trailblazer of integrative wellness, Canyon Ranch began with one man's pursuit of wellness, before wellness was a household word. In 1979, Mel Zuckerman opened the first Canyon Ranch destination in Tucson, Arizona. This first-of-its-kind wellness resort pioneered an integrative approach, drawing holistic methods, treatments, and evidence from both Western and Eastern medicine to address well-being of mind, body, and spirit. Today the company has a portfolio that includes destinations in Tucson, Arizona; Lenox, Massachusetts; Woodside, California; and Las Vegas, Nevada.
VICI Properties owns a large portfolio of gaming, hospitality, and entertainment destinations, with 43 gaming facilities, approximately 58,700 hotel rooms, and more than 450 restaurants, bars, nightclubs, and sportsbooks. The company has a growing array of investing and financing partnerships with non-gaming experiential operators, including Great Wolf Resorts, Cabot, Canyon Ranch, and Chelsea Piers.
WHY: The long-term partnership powers the expansion of Canyon Ranch to new markets for both its Wellness Club and Destination Resort Offerings. This "ecosystem" reflects the brand's core value of guiding people towards a well way of life.
IN THEIR OWN WORDS: "Over the last forty years, Canyon Ranch has been meeting people where they are in their pursuit of wellness. 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," notes Jeff Kuster, CEO of Canyon Ranch.
CEO of VICI Properties, Edward Pitoniak, said, "At VICI we seek to invest in experiential real estate centered 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 capitalizing on the growing demand for wellness and life enhancement around the world."
John Goff, Chairman of Canyon Ranch, added, "We are thrilled to partner with the expertise and capital resources of VICI. This partnership offers Canyon Ranch the potential to accelerate our growth in an 'asset light' manner, growing our reach and expertise. VICI shares our vision for growth and our confidence that the current environment is a compelling time to invest."
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