Canyon Ranch Update

January 23, 2002
Canyon Ranch, the ultra-luxe spa that had tried to launch a cruise line spinoff (the Italian shipyard it had contracted with went belly-up) is back in the game. At least sort of: Canyon Ranch has signed a letter of intent with Kvaerner Masa-Yards. While that’s not as concrete as a signed contract, says spokeswoman Katie Garber, the Tucson-based company is optimistic its plans will move forward. At this point, the “letter” calls for two totally resort-oriented 37,000-ton ships that would be delivered in 2004 and 2005. Typically, a signed contract follows more negotiations (and concrete financing plans). Founded in 1979, Canyon Ranch operates destination spa resorts in Tucson and Lenox (the Berkshires), Massachusetts. The company has, of late, been expanding with its first SpaClub facility, located at Las Vegas’ Venetian Resort. Its second SpaClub will be onboard Cunard’s much anticipated Queen Mary 2.
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