Revenue management in spas: Lessons from the hotel industry
In terms of yield management and optimizing revenue, there is a lot the spa industry can learn from the hotel industry. Thanks to the similar complexity that goes along with the management of pricing and rate levels for hotels and spas, the new customer-oriented approach taken by the hotel industry looks like the ideal […]
RevPATH and the art of understanding time to improve yield management in the spa industry
Last week, we introduced some of today’s most challenging issues surrounding yield management in the spa industry. Furthermore, we stressed the importance of bringing an integrated approach into revenue management capable of providing spas with the opportunity to measure time as a crucial variable to understand revenue-production performance. In our previous post, we briefly […]
Re-Defining Yield Management in the Spa Industry
In previous posts, we have discussed the importance of adopting effective yield management within the spa and wellness industries. There is little doubt that this is a crucial issue especially with the worldwide revenue our industry generates each year (over US$70 billion) and the ongoing challenges and opportunities we face. Our previous discussions covered […]
Hotel Spas and Revenue Management
This month, we would like to share some articles dealing with spas’ day-to-day operations and revenue/profit strategies. We would like to kick off this series with a post where we will take a look at the benefits that hoteliers can perceive if they add their spas to their revenue management system. In order to […]
How to Price Spa Packages
Creating a spa package that sells well is in itself a challenge for most spa operators, let alone finding an appropriate pricing policy for these packages. It is a fine science, and is not merely a question of finding your most poor selling treatments, putting them into a package and selling them at a huge […]
Pricing Strategies: The Right Price
Understanding how to create and implement a coherent spa pricing strategy is essential for maximising yield. There is no doubt that implementing a coherent pricing policy is one of the key factors for ensuring optimum revenues and higher profits. But what constitutes a ‘coherent pricing policy’? What are the important variables that need to […]
The Importance of a Pricing Strategy
This week, we are talking about pricing. Because of the significant weight that pricing has in the overall performance of a company, we believe this is an important issue the spa industry needs to get better at. In order to discuss this, we would like to share two interesting articles on pricing published […]
Hotel Spas in the Current Economic Downturn
The financial crisis that hit the world in 2008 has affected all industries across the globe. The spa industry has also suffered the negative effects due to this global downturn. This week, we are offering a general outlook of the way hotel spas have been affected by this crisis and the emerging signs of […]
New Model of Revenue Management for Spas: Lessons from the Hotel Sector
In terms of yield management and optimizing revenue, there is a lot the spa industry can learn from the hotel industry. In fact, thanks to the similar complexity that goes along with the management of pricing and rate levels for hotels and spas, the new customer-oriented approach taken by the hotel industry looks like […]