Four Key Points in Making Wellness Profitable

By David Stoup Chairman, Trilogy Spa Holdings, LLC | July 22, 2018

Any discussion of wellness starts with a definition of the concept. In this respect I am blessed to have as partners some of the world's greatest Integrative Medicine physicians.

What Is Wellness?

Ask Andrew Weil, MD (the Father of wellness), Tieraona Low Dog, MD (the country's leading authority on herbal and botanical medicine) or Jennifer Ashton, MD (ABC's Chief Medical Correspondent) about the pillars of health and wellness and you will hear four very similar responses - Sleep Well, Eat Well, Exercise Righ, and Take Stress Out of Your Life.

While the worldwide spa business is a $59 billion market, it pales by comparison to wellness which as a collection of business categories records annual revenues of $3.4 trillion on a worldwide basis.

How can this be, you ask? Consider that most spas only address the fourth of the four pillars of health and wellness we just discussed - stress relief. The revenue numbers alone point to the fact that America and the world at large have migrated toward a more diverse wellness offering in pursuit of long lasting and comprehensive health and wellness solutions.

Turning our inquiry to profitability and, ultimately, the appropriate return on invested capital, leads us to an interesting question… what should I expect from my spa operator, whether we are talking about an internal management solution or a third party? Here again, the answer is not one, but four responses:

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Coming up in March 2019...

Human Resources: An Era of Transition

Traditionally, the human resource department administers five key areas within a hotel operation - compliance, compensation and benefits, organizational dynamics, selection and retention, and training and development. However, HR professionals are also presently involved in culture-building activities, as well as implementing new employee on-boarding practices and engagement initiatives. As a result, HR professionals have been elevated to senior leadership status, creating value and profit within their organization. Still, they continue to face some intractable issues, including a shrinking talent pool and the need to recruit top-notch employees who are empowered to provide outstanding customer service. In order to attract top-tier talent, one option is to take advantage of recruitment opportunities offered through colleges and universities, especially if they have a hospitality major. This pool of prospective employees is likely to be better educated and more enthusiastic than walk-in hires. Also, once hired, there could be additional training and development opportunities that stem from an association with a college or university. Continuing education courses, business conferences, seminars and online instruction - all can be a valuable source of employee development opportunities. In addition to meeting recruitment demands in the present, HR professionals must also be forward-thinking, anticipating the skills that will be needed in the future to meet guest expectations. One such skill that is becoming increasingly valued is “resilience”, the ability to “go with the flow” and not become overwhelmed by the disruptive influences  of change and reinvention. In an era of transition—new technologies, expanding markets, consolidation of brands and businesses, and modifications in people's values and lifestyles - the capacity to remain flexible, nimble and resilient is a valuable skill to possess. The March Hotel Business Review will examine some of the strategies that HR professionals are employing to ensure that their hotel operations continue to thrive.