Seveno Capital, Borderless Healthcare eyes US$1.8 trillion global wellness market
According to a statement, the new joint venture between Seveno Capital and Borderless Healthcare Group will focus on asset owners within the 'wellness archipelago' of Singapore, Thailand, Indonesia, Vietnam and Malaysia.
Seveno Capital is led by Park Hotel Group founder and healthspan entrepreneur Allen Law while Borderless Healthcare Group is led by global healthcare technology, media, telecommunication, service and content pioneer Dr Wei Siang Yu.
Law said The Well Estate will enable hospitality asset owners to align their business and guest offerings with the global wellness and longevity revolution that will be equally as transformative as artificial intelligence.
Meanwhile, Dr Wei added that The Well Estate sets a new standard for immersive guest experiences that is profitable, purposeful and scalable.
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, giving guests live access to health and medical experts as well as famous content creators.
By unlocking new revenue streams and increasing the value of each guest stay, The Well Estate aims to improve asset utilisation, particularly for underused spaces such as gyms and spas, with guests also having access to personalised diets, fitness, yoga, mindfulness and health programmes.
According to the Global Wellness Institute, the global wellness industry was valued at US$5.6 trillion in 2023 and is projected to reach US$8.5 trillion by 2027. The wellness economy is also expected to grow by 8.6 per cent annually through 2027, outpacing global gross domestic product (GDP), while luxury wellness resorts can generate 30 to 50 per cent higher daily rates than traditional hotels.
The initiative comes as hotels are investing heavily to meet this demand and to capture a larger share of this lucrative market; integrating labs, diagnostics, intravenous (IV) drips and longevity hubs into their amenities, positioning themselves at the forefront of the evolving wellness economy.
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