Luxury Hoteliers Magazine 2nd Quarter 2017 | Page 24

The Ritz-Carlton Paradise Valley, Arizona - USA identity can significantly redefine a hotel product and the compset it benchmarks against. How will hotel spas change in hotels of the future? Hotel spas in the traditional cross- border definition of a hotel spa will in the future be downsized from many of the oversized spas we see today! It’s a bold statement but there are two trends that will influence this direction. The first is that few spas ever deliver on the ROI objectives that were planned from the outset and cross-selling or optimization of such spaces are practiced at a very low rate. Owners and investors will demand much more clarity in how these spaces deliver an ROI and will put a cap on spas being over built and justified solely by ‘aesthetic rhetoric’. In my co-authored contribution to the book ‘Hotel and Resorts: An Investor’s Guide’ David Harper and myself provided clarity on how to determine the financial performance of a spa facility and its correlation to the property value, and this is something that rarely happens in the planning stage of a new hotel spa. If such principles occur the hotel 24 ILHA spa concept and its related investment will be kept in check and high likely keep the spa development under fiscal control. The second is the influence of societies’ wellbeing demands are changing how experiences are translated into facility and service provisions to serve both the guest’s wellbeing expectations and facilitate a competitive element to the hotel property positioning. benefit to hotels having a wellbeing concept? We have seen an increase of up to 20% in TRevPAR for properties planned and operated with a wellbeing hospitality principles applied. Therefore, applying a vital wellbeing DNA thread throughout the hotel by integrating healthier consciousness and a wellness influence rather than it offered solely as a dedicated spa and wellness space brings significant benefits to both owner and operator. What’s the financial Pine Cliffs Resort, A Luxury Collection Resort, Algarve – Portugal