GOCO Hospitality has partnered with Fullerton Fund Management (Fullerton) to invest in wellness-centric properties across the Asia-Pacific region, specifically through the Fullerton Thai Private Equity fund. As a leading global wellness consulting, development, and management firm, GOCO’s acquisition strategy includes investing in financially distressed properties, undertaking value-added renovations, rebranding, and focusing on wellness-driven repositioning.
In an exclusive interview with Spa Business, GOCO’s founder and CEO, Ingo Schweder, disclosed that Fullerton has acquired a minority stake in GOCO Hospitality Holdings Thailand. Over the next 18 to 24 months, GOCO plans to utilize investment capital from Fullerton to acquire strategic assets in the Asia-Pacific area.
Tan Huck Khim, deputy CIO and head of alternatives at Fullerton, commented on the significant potential of the wellness sector in Asia and globally, praising GOCO’s leadership and expertise in the field.
Schweder highlighted Fullerton’s alignment with GOCO’s vision to develop and democratize wellness destinations in the Asia-Pacific and beyond. He looks forward to exploring collaborative opportunities in Indonesia, Thailand, the Maldives, as well as outside the region in Switzerland, Saudi Arabia, India, and Germany.
This collaboration reflects the growing interest and demand in wellness-focused hospitality, supported by the Global Wellness Institute’s report. The report indicates that the global wellness economy was valued at US$5.61 trillion in 2022, with a projection to reach US$8.47 trillion by 2027. The Wellness Real Estate sector is expected to grow at an average annual rate of 17.4% from 2022 to 2027.