Intelligent Spas' latest series of benchmark reports is highlighting significant differences in spa markets across the greater Asia Pacific region. This information is crucial for those operating in these markets to conduct reliable business analysis and planning, and a comparison of performance benchmarks identified the following key differences across the region:
* Thailand is the largest spa market in the Asia Pacific region.
* New Zealand hosts the highest proportion of day spas.
* Hotel, resort and destination retreat spas are in highest proportions in Cambodia and the United Arab Emirates.
* The Australian spa industry generated the most revenue during 2007.
* Total spa industry visits and employment were highest in Thailand.
The countries that achieved the highest benchmark for other key performance indicators included the United Arab Emirates in the “Revenue per Spa” category, New Zealand in the “Revenue per Square Metre” category, Australia in the “Spend per Visitor” category, China in “Size of Spa (Indoor Space),” the United Arab Emirates in “Number of Treatment Rooms,” Cambodia in “Capture Rate from Accommodation Property,” and the United Arab Emirates in “Forecast Growth Rage of Spa Numbers.”
What is spa benchmarking?
“Spa benchmarking is the process spas use to maximise their business potential by measuring aspects of their spa and comparing these against the industry average” explained Julie Garrow, managing director of the independent research company Intelligent Spas. “Spa benchmarks are also used by other businesses operating in the spa industry to monitor trends and address the product and service needs of spas.”
Spa industry benchmarks:
* Provide better understanding of market conditions and offerings to achieve and maintain competitiveness.
* Enable strategic business decisions to be based on facts rather than guesswork.
* Highlight market opportunities in decline to minimize over-investment.
About Intelligent SpasIntelligent Spas is one of the only 100% independent research companies specializing in the spa industry. Founded in Singapore in 2001, it has pioneered spa industry research in the greater Asia Pacific region and continues to publish a range of spa operations manuals, spa consumer surveys and spa industry surveys to assist the performance and growth of this important industry.
Research is also underway in more than 35 countries. To join the Spa Benchmark Program, register at www.spabenchmark.com/industry, and to learn more about spa benchmarking, visit www.IntelligentSpas.com and request the free educational guide entitled Using Spa Industry Benchmarks For Success.