Spa Asset Managers Drive Revenue and Property Values

By David Stoup Chairman, Trilogy Spa Holdings, LLC | July 23, 2017

Properly operated hotel spas provide an owner the opportunity to boost property profits while driving additional value through the implementation of robust Social Media and Public Relations programming, and the sale of incremental, attractive room packages.

The question is: are you providing your spa with the support and experience necessary to achieve these objectives? Unfortunately, it is all too common for Hotel Spas to be underperforming in some, if not all, the above categories. If that is the case, a spa asset manager may be a worthwhile investment for your property.

What a Spa Asset Manager Adds

A spa asset manager brings their depth of experience in the spa industry to your property, complementing the strengths of your Spa Director and allowing your executive team to focus their time on the major operating departments of the property.

Compared to the rooms or food and beverage departments, the spa is often a small portion of the P&L. Successful spas require the implementation of a unique operating model. The challenges spas face often require a significant investment of time to fully understand and address for someone who has never been a Spa Director. Hiring, training and retaining specialized licensed staff, developing and monitoring marketing initiatives, tracking and reacting to financial performance, all while staying up-to-date on the latest trends of a specialty industry, is no small task.

Too often much of this responsibility is placed on the Spa Director without the resources or experience to oversee the entire operation. Very rarely will one person be a strong marketer, operator, financial analyst, innovative product developer- all, and at an affordable salary. A spa asset manager supports a Spa Director in the areas where they may lack experience or are outside their depth of knowledge, and allow them to focus their time on their areas of strength.

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Eco-Friendly Practices: Corporate Social Responsibility

The hotel industry has undertaken a long-term effort to build more responsible and socially conscious businesses. What began with small efforts to reduce waste - such as paperless checkouts and refillable soap dispensers - has evolved into an international movement toward implementing sustainable development practices. In addition to establishing themselves as good corporate citizens, adopting eco-friendly practices is sound business for hotels. According to a recent report from Deloitte, 95% of business travelers believe the hotel industry should be undertaking “green” initiatives, and Millennials are twice as likely to support brands with strong management of environmental and social issues. Given these conclusions, hotels are continuing to innovate in the areas of environmental sustainability. For example, one leading hotel chain has designed special elevators that collect kinetic energy from the moving lift and in the process, they have reduced their energy consumption by 50%  over conventional elevators. Also, they installed an advanced air conditioning system which employs a magnetic mechanical system that makes them more energy efficient. Other hotels are installing Intelligent Building Systems which monitor and control temperatures in rooms, common areas and swimming pools, as well as ventilation and cold water systems. Some hotels are installing Electric Vehicle charging stations, planting rooftop gardens, implementing stringent recycling programs, and insisting on the use of biodegradable materials. Another trend is the creation of Green Teams within a hotel's operation that are tasked to implement earth-friendly practices and manage budgets for green projects. Some hotels have even gone so far as to curtail or eliminate room service, believing that keeping the kitchen open 24/7 isn't terribly sustainable. The May issue of the Hotel Business Review will document what some hotels are doing to integrate sustainable practices into their operations and how they are benefiting from them.