Rising Capex, Development and Wellness Construction
By Mia A. Mackman President & Owner, Mackman ES | March 10, 2019
Over the last decade, the spa and wellness sector has faced tremendous growth in the hospitality industry. This evolution has significantly evolved over the last few years. Many hotels and resorts have found it increasingly necessary to adopt new performance models, renovate existing structures, and greatly enhance their food and beverage programs. This has also stimulated innovative property updates to accommodations, public spaces and spa and wellness facilities.
Transition and Demand
Throughout this transition, emerging wellness trends have grown into a new category of demand generators centered around well-being. This has impacted guest expectations, new customer preferences and in some cases, transformed traditional hotel and resort leisure principles. With this, guest profiles and different social demographics are changing the way people use today's hotel and resort spa facilities and public spaces.
With a rising demand for improved personalization, wellness initiatives, and new program offers, many hotels and resorts have been led to go above and beyond conventional offerings in order to remain competitive. Some of these improvements include faster broader ranging internet, swifter check-ins, and new booking systems. As advancements in new technology advance with greater speed, incorporating these tools and updating existing systems on the front and back end have become essential investments.
U.S. Spa Industry Growth
The U.S. Spa market has been on an upward trajectory for the last eight consecutive years. Starting in 2009, there have been dramatic increases across five of the leading revenue segments in the U.S. The International Spa Association (ISPA) calls these the "Big Five " which include record increases to the number of spa businesses, employees in the workforce, spa revenue, average treatment rates and average spend per guest. Despite the widespread economic downturn between 2008-2009, spa and wellness growth has continued to thrive.