VICI Properties has entered into a delayed draw term-loan facility for up to $200 million to fund the development of Canyon Ranch’s newest wellness-resort offering, Canyon Ranch Austin in Austin, Texas.
“Global place-based wellness, a multi-trillion-dollar sector today, stands to be one of the fastest-growing consumer spaces for years to come, thanks to the strong cultural and demographic factors around wellness,” said Edward Pitoniak, VICI CEO. “Our investment in Canyon Ranch Austin enables VICI to enter the place-based wellness sector with the foremost brand in global wellness, Canyon Ranch. We’re excited and proud to put VICI’s capital behind the growth visions of John Goff, Jeff Kuster, and the Canyon Ranch team.”
Canyon Ranch Austin is expected to begin welcoming guests as the fourth all-inclusive wellness resort in the Canyon Ranch portfolio in 2025.
