The spa sector is growing at an amazing rate.
According to the most recent Global Wellness Economy Monitor from the Global Wellness Institute, the global spa market grew from $94 billion in 2013 to $98.6 billion in 2015, and the number of world spa locations jumped from 105,591 in 2013 to 121,595 in 2015. In that time, the spa industry added 16,000 spas, more than 230,000 workers – to reach 2.1 million – and $3.5 billion in revenue.
In even more good news, between 2014 and 2015 hotel spa revenue grew at a faster pace compared to other sources of hotel revenue for the first time this decade. This is according to the 2016 edition of CBRE’s Trends® in the Hotel Spa Industry.
Not only does global interest in wellness continue to grow, but technological advancement, access to information and to remote corners of the world, and innovative developments in products and therapies all make this an exciting time to be in the business of wellness. And it’s more important now than ever that we, as owners, managers, and directors in spas and related industries, keep up, because change happens just as fast in the world of still waters as it does in the most fast-paced sectors – or it should.
Amid all this incredible growth and good news, we face challenges. Among the biggest of these are talent shortages and high employee turnover, keeping on top of market trends, and customer retention. These issues aren’t specific to spas – everyone in every industry faces them. But the specifics to the spa sector, like the solutions, are unique. We’re an industry run by people who are moved by and inspired by wellness and beauty, by world travel, and by healing – and where burnout and stress levels are high among the people we value most, our employees, who give so much of themselves.
Spa Executive is a magazine for leaders, for people at the top of their game, who want to rise even higher and take their organizations up with them. It’s for the men and women who want to attract top talent, increase customer retention, and offer the best possible guest experiences imaginable. It’s for people who want to have and to offer the best work-life balance, and who know that loving what you do and leading well is the best way to find that balance.
Here you will find articles on the latest trends and treatments, the most beautiful properties, the most recent news, and the newest technologies. You will also find insight and advice about how to master all the little business challenges so you can increase revenues and raise the bottom line higher than you thought possible.
We hope you enjoy what you find in Spa Executive, that you find it valuable, and that you will follow along as we roll it out.
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We look forward to hearing from you.
looking forward to following Spa executive…
healthy regards, bob henry