Seveno Capital and Borderless Healthcare Group launch JV to provide ‘medical wellness service' to hospitality owners
SINGAPORE--(BUSINESS WIRE)-- Seveno Capital and Borderless Healthcare Group have launched the world's first medical wellness real estate company to target the growing $1.8 trillion global wellness market as the world enters a 'longevity boom' that UBS reports will be worth US$8 trillion by 2030.
The Well Estate will provide a turnkey solution for hospitality asset owners to be able to offer transformative medical wellness experiences to guests as the global hospitality industry seeks to harness the US$1.8 trillion global wellness boom.
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The Well Estate will support hotel and hospitality asset owners to shift from a 'room yield' to a 'room plus' business model by providing turnkey medical wellness solutions that give guests live access to health and medical experts as well as famous content creators. Guests will also have access to personalised diets, fitness, yoga, mindfulness and health programs.
The Well Estate solution will unlock new revenue channels for hospitality asset owners that will drive higher transaction value per stay, longer guest retention and full utilization of underperforming facilities like gyms and spas. The new company will focus on asset owners within the 'wellness archipelago' of Singapore, Thailand, Indonesia, Vietnam and Malaysia.
The global wellness industry is booming, valued at $5.6 trillion in 2023 and projected to reach $8.5 trillion by 2027, according to the Global Wellness Institute. The wellness economy is also expected to grow by 8.6% annually through 2027, outpacing global GDP.
Hotels are playing a growing role, with wellness tourism accounting for $651 billion globally in 2022 and expected to hit $1.4 trillion by 2027. Travelers increasingly seek wellness experiences, with over 50% preferring hotels that offer spa, fitness, and nutrition services.
Luxury wellness resorts can generate 30–50% higher daily rates than traditional hotels. Hotels are investing heavily to meet this demand and to capture a larger share of this lucrative market; integrating labs, diagnostics, IV drips and longevity hubs into their amenities.
The Well Estate is a JV between Borderless Healthcare Group, led by global healthcare technology, media, telecommunication, service and content pioneer Dr Wei Siang Yu; and Seveno Capital, led by Park Hotel Group founder and healthspan entrepreneur, Allen Law.
Allen Law said:
'The Well Estate will enable hospitality asset owners to align their business and guest offering with the global wellness and longevity revolution that will be equally as transformative as AI.'
Dr Wei said:
'This represents a new phase for the hospitality sector and a new benchmark for immersive guest experiences that are profitable, purposeful and scalable.'
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