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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
3 hours ago
- The Star
China hopes for 'reciprocity' at trade talks with US in Stockholm
STOCKHOLM (AFP): Chinese and US economic officials met for talks in Stockholm on Monday, with Beijing saying it wanted to see "reciprocity" in its trade with the United States. The Swedish prime minister's office confirmed the talks, which are expected to last two days, were under way. The talks came a day after US President Donald Trump reached a deal that will see imports from the European Union taxed at 15 percent and the clock ticking down for many countries to reach deals or face high US tariffs. Beijing said on Monday it hoped the two sides could hold talks in the spirit of "mutual respect and reciprocity". Foreign ministry spokesman Guo Jiakun said Beijing sought to "enhance consensus through dialogue and communication, reduce misunderstandings, strengthen cooperation and promote the stable, healthy and sustainable development of China-US relations". For dozens of trading partners, failing to strike an agreement in the coming days means they could face significant tariff hikes on exports to the United States come Friday, August 1. The steeper rates, threatened against partners like Brazil and India, would raise the duties their products face from a "baseline" of 10 percent now to levels up to 50 percent. Tariffs imposed by the Trump administration have already effectively raised duties on US imports to levels not seen since the 1930s, according to data from The Budget Lab research centre at Yale University. For now, all eyes are on discussions between Washington and Beijing as a delegation including US Treasury Secretary Scott Bessent meets a Chinese team led by Vice Premier He Lifeng in Sweden. In Stockholm, Chinese and US flags were raised in front of Rosenbad, the seat of the Swedish government. While both countries in April imposed tariffs on each other's products that reached triple-digit levels, US duties this year have temporarily been lowered to 30 percent and China's countermeasures slashed to 10 percent. But the 90-day truce, instituted after talks in Geneva in May, is set to expire on August 12. Since the Geneva meeting, the two sides have convened in London to iron out disagreements. - China progress? - "There seems to have been a fairly significant shift in (US) administration thinking on China since particularly the London talks," said Emily Benson, head of strategy at Minerva Technology Futures. "The mood now is much more focused on what's possible to achieve, on warming relations where possible and restraining any factors that could increase tensions," she told AFP. Talks with China have not produced a deal but Benson said both countries have made progress, with certain rare earth and semiconductor flows restarting. "Secretary Bessent has also signalled that he thinks a concrete outcome will be to delay the 90-day tariff pause," she said. "That's also promising, because it indicates that something potentially more substantive is on the horizon." The South China Morning Post, citing sources on both sides, reported Sunday that Washington and Beijing are expected to extend their tariff pause by another 90 days. Trump has announced pacts so far with the European Union, Britain, Vietnam, Japan, Indonesia and the Philippines, although details have been sparse. An extension of the US-China deal to keep tariffs at reduced levels "would show that both sides see value in continuing talks", said Thibault Denamiel, a fellow at the Centre for Strategic and International Studies. US-China Business Council president Sean Stein said the market was not anticipating a detailed readout from Stockholm: "What's more important is the atmosphere coming out." "The business community is optimistic that the two presidents will meet later this year, hopefully in Beijing," he told AFP. "It's clear that on both sides, the final decision-maker is going to be the president." For others, the prospect of higher US tariffs and few details from fresh trade deals mark "a far cry from the ideal scenario", said Denamiel. But they show some progress, particularly with partners Washington has signalled are on its priority list like the EU, Japan, the Philippines and South Korea. The EU unveiled a pact with Washington on Sunday while Seoul is rushing to strike an agreement, after Japan and the Philippines already reached the outlines of deals. Breakthroughs have been patchy since Washington promised a flurry of agreements after unveiling, and then swiftly postponing, tariff hikes targeting dozens of economies in April. - AFP
The Sun
3 hours ago
- The Sun
Azerbaijan seeks global aid for landmine-free future at Malaysia seminar
KUALA LUMPUR: Azerbaijan has called for global backing to eliminate landmines, requesting political support, funding, and technical expertise to achieve a mine-free future. Ambassador Irfan Davudov highlighted the need for international cooperation, including from Malaysia, to advance this initiative under the Sustainable Development Goals (SDGs). 'We expect the Malaysian government to make a decision on this issue. I believe that financial or technical assistance from Malaysia would be highly appreciated,' Davudov said after the International Seminar Towards a Landmine-Free World. The Mine Action Agency of Azerbaijan (ANAMA) leads demining efforts, which could take two decades and require an estimated US$25 billion. Despite the lengthy timeline, Davudov expressed confidence in success with global collaboration. Shaharuddin Onn, Chair of the ASEAN Regional Mine Action Centre (ARMAC), reaffirmed ARMAC's commitment to partnering with Azerbaijan. 'This cooperation reflects the shared commitment between ARMAC and ANAMA. The partnership is tailored, collaborative, and based on cyber-focused solutions,' he said. ARMAC hosted ANAMA in 2024 to share ASEAN's model for victim assistance and landmine rehabilitation. Shaharuddin emphasized joint efforts towards SDG 16, which focuses on peace, justice, and fundamental freedoms. - Bernama
Free Malaysia Today
3 hours ago
- Free Malaysia Today
US to resume grants to Nepal for 2 key infrastructure projects
Nepal is one of the world's poorest countries. (EPA images pic) KATHMANDU : The US will resume its funding for two major infrastructure projects in Nepal that were earlier put on hold after president Donald Trump suspended all foreign development assistance, authorities said on Monday. US government aid agency the Millennium Challenge Corporation agreed in 2017 to provide US$500 million to fund a power transmission line and road improvement project in the Himalayan nation, one of the world's poorest countries. But the projects were put on hold after Trump in January ordered a 90-day pause in foreign development assistance on the day he returned to the White House, pending a review of its efficiency and consistency with US foreign policy. A statement from Nepal's finance ministry said the US government had completed the review of the assistance under the MCC Nepal Compact for these projects. 'Information has been received that the implementation of the MCC Nepal Compact has been recommended,' the statement said without providing details. The transmission line was meant to promote power trade between Nepal and neighbouring India. The US embassy in Nepal confirmed the development in a post on its official X handle, adding that the project 'supports prosperity and regional energy security by building electricity transmission infrastructure and improving the road network'. Nepali authorities said the projects will now resume. The finance ministry made no reference to seven other projects in the field of education, health, agriculture and statistics that were also funded by the US agency for international development (Usaid) and were stalled in February. The funding cuts by the Trump administration have effectively shut down Usaid, leading to the firing of thousands of its employees and contractors. The MCC grant sparked street protests in 2022, with Nepal's opposition parties saying it would undermine sovereignty as Kathmandu would not have sufficient control over the projects. Parliament approved the projects the same year by a majority vote.
