High-End Spa Operator Canyon Ranch Spas Get $300 Million From Vici

Vici Properties Inc., the real estate investment trust that owns Caesars Palace and other casino resorts, increased its investment in Canyon Ranch, an operator of high-end spas.

The REIT has agreed to invest up to $150 million in preferred equity in Canyon Ranch, which is owned by Texas real estate investor John Goff. Vici loaned the company an additional $150 million, secured by its spas in Tucson, Arizona, and Lenox, Massachusetts, to refinance existing debt.