Canyon Ranch to Expand Wellness Resort Brand With Investor Vici's Help

A real estate mogul has made a small bet on the evolution of experiential wellness in hospitality by helping to back the growth of Canyon Ranch, a four-decade-old, destination spa resort brand. 

Vici Properties said it had tapped a loan facility for up to $200 million to fund the development of Canyon Ranch Austin in Austin, Texas, slated to open in 2025. Vici is a real estate investment trust affiliated with Caesars Entertainment whose portfolio includes 58,000 hotel rooms and casinos. Earlier this year, it acquired the Venetian Resort Las Vegas in a $4 billion deal.

The move came as Canyon Ranch, which has three full-service resorts, is pursuing a growth strategy by adding the Austin resort.

More ambitiously, Canyon Ranch plans to open urban wellness clubs. It plans to open mid-s