Intelligent Spas' new research on the spa industry in mainland China and Hong Kong identified total revenue and employment have grown by more than 1,000% since 2002. Revenue generated in 2007 was in excess of $185 million and spas employed more than 6,000 people.
The research also found:
* The number of spas in mainland China and Hong Kong has grown by more than 500% since 2002, with 190 spas now open and operating, and the industry forecast to grow by at least 20% between 2008 and 2010.
* 65% of all spas operating in mainland China are located in hotels or resorts. In comparison, just 16% of Hong Kong spas were operating in hotels or resorts.
* More than 2,041,000 people visited spas in mainland China and Hong Kong during 2007.
* Spas in China are designed with the largest indoor space compared to other spa markets across the greater Asia Pacific region.
The new China & Hong Kong Spa Benchmark Report 2002-2010 also includes benchmark ratios such as daily revenue per spa, revenue per square meter and employees per treatment room, capture rate from hotel and resorts co-located with spas, plus profile benchmarks detailing infrastructure, business models and treatments and current industry trends.
“These new benchmarks are timely given the changes occurring in China's tourism, hospitality and leisure industries and will provide spas and other businesses operating in the spa industry with valuable information to help guide them through potentially volatile times once the Olympic Games are over,” explained Julie Garrow, managing director of the independent research company Intelligent Spas.
Intelligent Spas has also released the results of Vietnam's first spa industry survey, identifying that this emerging market generated more than $9 million in revenue and delivered services to more than 428,000 spa visitors during 2007.
The research also found:
* Of the 95 authentic spa facilities operating in Vietnam, 38% of spas were standalone day spas and 62% were destination spas co-located with accommodation.
* During 2007, the spa industry employed more than 1,000 people.
* The spa industry is forecast to grow by 11% between 2008 and 2010
“Vietnam is a very unique and interesting market, and we are pleased to initiate one of the first industry benchmarks to help spas monitor their performance and develop sound business plans as supply increases” explained Garrow. “These benchmarks will allow spa owners and managers to make informed business decisions as well as provide other businesses with valuable information so they may monitor trends and correctly address the product and service needs of spas.”
The new Vietnam Spa Benchmark Report 2007-2010 provides financial and performance benchmarks such as revenue, visitor numbers and employment, as well as key benchmark ratios including daily revenue per spa, revenue per square meter and average revenue per visit, which are critical for reliable business planning.
Current industry trends observed by spa owners and managers and profile benchmarks detailing infrastructure, business models, treatments and pricing are also included in the report.
About the research
This is the second spa industry survey conducted in mainland China and Hong Kong and the first spa industry survey conducted in Vietnam by Intelligent Spas. The China and Hong Kong report incorporates historical and forecast data for the period 2002 to 2010, in addition to the results of the recent survey. The Vietnam report incorporates the results of one of the first official spa industry surveys conducted in Vietnam, which captured current, historical and forecast data for the period 2007 to 2010. The full reports are available for immediate download from www.IntelligentSpas.com. Research is also underway in more than 35 other countries. To join the spa industry survey, register at www.spabenchmark.com/industry.
About Intelligent Spas
Intelligent 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 Asia Pacific region and continues to publish a range of spa business and operations manuals, spa consumer surveys, and spa industry surveys to assist the performance and growth of this important industry.