Building on a relationship established in 2022, Cheyne’s latest commitment includes a £32m capital expenditure facility to refurbish and upgrade all bedrooms and public areas across Champneys’ portfolio of four spa resorts and two spa hotels.

The funding will enable further enhancements to spa and wellness facilities, food and beverage offerings, and landscaping.

The investment will also support Champneys’ sustainability initiatives, with a focus on energy-efficient systems, waste reduction and environmental stewardship across its estates.

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Finally, Champneys is eyeing both domestic and international expansion as part of its next phase of growth. This includes a franchising model exemplified by the recent opening at the Gran Marbella Resort & Beach Club in Spain, and still to be announced UK operations.

Theo Hajoglou, director at Cheyne Capital, commented: “Our extended partnership with Champneys underscores our conviction in the strength of the business, its management team, and the enduring appeal of the wellness sector.

“This latest investment will enable the company to accelerate its growth strategy, enhance its estate and continue setting the standard for premium health and wellbeing experiences.”

Alan Whiteley, CEO at Champneys, added: “We’re delighted to deepen our partnership with Cheyne Capital in what is an important next chapter for Champneys.

“With Cheyne’s long-term support, we can protect our historic properties, strengthen our brand, and expand responsibly.”

The transaction has now completed. Terms of the deal were not disclosed.