An urban oasis is coming Stateside.
What’s happening: European thermal spring resort operator Therme Group partnered with real estate developer The Georgetown Company to build 10 destinations in major US cities.
Acquiring a 25% stake, Georgetown will partially fund and expedite the first two 500K-sq-ft Therme sites, representing $1.5B in development costs.
Mega. The locations will be modeled after existing thermal parks in Europe, featuring communal heated baths, mineral pools, and Nordic saunas, plus spa treatments, botanical gardens, and swim-up bars and restaurants.
Unparalleled in scale for a health resort, Therme’s Bucharest site is the #1 visitor attraction in Central Europe. And after acquiring Germany’s Therme Erding—the world’s largest thermal spa—in December, it expects 1.5M annual visitors between the two.
Soak it in. As sauna, cold plunge, and communal bathhouses seed into cultures around the world, Therme’s existing groundwork may come to fruition right at the inflection point.
Recently landing €245M to accelerate its 28-acre project in Manchester, UK, Therme has active builds in Dubai, Toronto, and Frankfurt — with a tentative agreement for a flagship in DC.
Punchline: A theme park for wellness enthusiasts, Therme Group could shake up American vacations, recreation, and connection.
