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The market research company Intelligent Spas has released its fourth Spa Benchmark Report on Thailand's spa industry, noting the region's trends and growth.
Intelligent Spas’ fourth Spa Benchmark Report on Thailand found the 743 spas operating in Thailand are expected to generate approximately $275 million in revenue during 2009. Thailand hosts the highest number of spas in the region and the research confirmed spa numbers have increased 202% since 2002. The new report presents an extensive collection of financial statistics, including breakdowns of key performance indicators by day spas, hotel spas and resort spas.
Some key findings included:
“Thai spas experienced a drop in revenue during 2009; however, the number of visits and employees have remained relatively stable. While this is encouraging, a number of key benchmark ratios are forecast to decline, so spa operators, suppliers and consultants need to apply this new research to help them successfully compete in 2010,” stated Julie Garrow, managing director of the independent research company Intelligent Spas.
Andrew Jacka, president of the Thai Spa Association, stated, "Given the global economic turmoil of the past year or so, the release of this, the latest Thai Spa Benchmark Report, is timely. A chance to reflect and plan for the future based on an element of reality of where the industry is and how it has been affected by both local and global issues, rather than just on speculation. The statistics this benchmark report provides give an unequalled insight into the Thai spa industry highlighting its true level of wellness. This report is an essential business tool for every serious minded spa operator."