Author: Matina Stevis-Gridneff and Rebecca R. Ruiz
Published on: 16/04/2025 | 00:00:00
AI Summary:
A Wellness Company With False Claims, Global Aims and a Toronto Island A Times investigation shows Therme exaggerated its track record in securing a deal with Ontario. West Island in Toronto has been cleared of trees by a European company that won a 95-year lease and permission to build and operate a water park and spa there. The company, which runs a spa and water park in Romania, is laying extensive plans to develop similar facilities around the world. Auditors last year found the contracting process had been unfair and opaque. Therme was pushing forward its plans for a multibillion-dollar expansion to other major cities in North America, Europe and the Middle East. But New York Times investigation showed that, in pitching itself to the world, the European spa company has misrepresented itself, misleading the Ontario government. Companies often use hyperbole to raise private-sector money. But Therme first won a key government contract based on its business portfolio. Doug Ford, premier of Ontario who won re-election in February, has faced criticism over his administration’s perceived coziness with developers. Infrastructure Ontario, the government agency that managed the bidding, said in written comments to The Times that the process was designed to be flexible, while still being “infused with some of the best practices from more formal procurements.” Infrastructure Ontario refused to answer follow up questions. Mr. Ford has championed the Therme project. Therme’s founder, Robert Hanea, says he selected them personally in Florida, Malaysia and Thailand. It bears a striking similarity to the logo of another European spa complex, one built and operated by an entirely different company — with the same name. In an interview with The Times, Mr. Hansea recounted touring the spas and water parks of Europe in the mid-2000s, looking for inspiration for a piece of land he owned near Bucharest. Hanea’s Therme was successful in Germany, a company representative said. He said the concept would become a gathering place for people of all ages and walks of life. But his company’s finances were tenuous, Ontario government analysts concluded. Therme is a major corporate donor to the Kennedy Center in Washington. Mr. Hanea serves on its corporate board. The company flew community representatives and social-media influencers to Romania. In 2025, Therme announced its first outside investors. An American real-estate investing firm, Sculptor Capital Management, invested $250 million to start work on the stalled Manchester complex. The company has yet to secure outside investment for its Toronto project. Ancient Syrian Town Seeks Interfaith Peace: Syria’s civil war drove a wedge between the residents of the small town of Maaloula. Can they live together peacefully again? Hong Kong Party Disbands: The Democratic Party long championed a moderate approach. It ended up squeezed between a discontented populace and a repressive Beijing.
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