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.