Saturday, 30 November 2024

Kamalaya Koh Samui founders exit business after earn-out

by BD Banks

The Founders of widely popular Thai wellness retreat, Kamalaya Koh Samui, have parted ways with the business and its new owner after a falling out.

Kamalaya was founded nearly 25 years ago on the south coast of Koh Samui by John and Karina Stewart. In 2022, Kamalaya Koh Samui joined Virtuoso as a Regional Preferred Partner, leveraging the luxury travel network’s depth of high-end travel advisors in Australia and New Zealand. The partnership has since been expanded to a global scale wih Virtuoso.

According to a report by Spa Business, the Stewarts began to divest the business in 2021 to Christopher Harborne, initially as a partnership before selling out completely and working as advisors during an earn-out period.

Better days. John and Karina Stewart (left), with new owner, Christopher Harborne.

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Citing “incompatibility” with Harborne (who goes by the name of Chakrit Sakunkrit), the Stewarts have now parted ways.

“It’s with heavy hearts that we have said goodbye to Kamalaya,” John Steward confirmed.

“After three years – during which time we’ve honoured our duties and responsibilities under the new ownership, we’ve come to the conclusion that our business and wellness philosophies vis a vis those of the controlling shareholders are simply divergent and incompatible,” he explained.

“Although we will no longer be part of Kamalaya, we hope that what we created will live on,” he said.

The post Kamalaya Koh Samui founders exit business after earn-out appeared first on LATTE Luxury News.

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