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GOCO Hospitality has announced a new partnership with Singapore-based investment firm Fullerton Fund Management to purchase and manage wellness assets.
Fullerton also purchased a minority stake in GOCO Hospitality Holdings Thailand.
GOCO CEO Ingo Schweder says the partnership will help both countries explore new opportunities in the Asia-Pacific region.
GOCO plans to leverage capital from Fullerton to acquire assets over the next 18 to 24 months
GOCO Hospitality is collaborating with Fullerton Fund Management (Fullerton) to invest in wellness-focused real estate in Asia Pacific through the Fullerton Thai Private Equity Fund.
GOCO is a global wellness consulting, development, and management company whose new acquisition plans include a variety of acquisitions, including financially distressed properties, value-add renovations, rebrands, and wellness-focused repositioning. Targets value creation strategies.
speak exclusively spa businessGOCO founder and CEO Ingo Schweder revealed that Fullerton has also purchased a minority stake in GOCO Hospitality Holdings Thailand.
GOCO expects to deploy investment capital from Fullerton over the next 18 to 24 months with a focus on acquiring strategic assets in the Asia Pacific region.
Tan Huck Kim, Deputy Chief Information Officer and Head of Alternatives at Fullerton, said:
“GOCO is a leader in this space, with an experienced founder and team, and is well-positioned to take advantage of opportunities in this space.”
Mr. Schweder added: “Fullerton is a great partner because we mutually understand the need to develop and further democratize wellness destinations in Asia Pacific and beyond.”
“We look forward to opportunities for cooperation not only in Indonesia, Thailand and the Maldives, but also outside the region in Switzerland, Saudi Arabia, India and Germany.”
Mr Schweder said the collaboration with Fullerton was due to the Global Wellness Institute’s latest report stating that the global wellness economy is worth US$5.61 trillion (£4.4 trillion, €5.2 trillion). It said this confirms the growing interest and demand for wellness-focused hospitality developments. It is predicted to reach US$8.47 trillion (£6.7 trillion, €7.8 trillion) by 2022.
The study predicts a compound annual growth rate of 17.4% for the wellness real estate sector from 2022 to 2027.
Learn more about Fullerton and GOCO
Fullerton, headquartered in Singapore, is a member of Seviola, an independent asset management group owned by Temasek, a global investment firm with a portfolio of US$300bn (£236.6bn, €277.6bn) invested in strategic assets. I’m a member.
Since its founding in 2008, GOCO has envisioned more than 220 health, fitness and sustainable wellness projects. The company’s team of wellness and hospitality experts consults with established hospitality brands, private investors, and sovereign wealth funds.
In addition to its consulting practice, GOCO owns and operates Glen Ivy Hot Springs, which was founded in 1860 and is one of California’s oldest hot springs resorts.
Under GOCO’s stewardship, all proceeds were reinvested into the historic resort and extensive upgrades and renovation projects were undertaken to revitalize the property and facilities.
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