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 be considered in order to maximise yields? It is not uncommon for spa operators to consider their cost base (mainly cost of labour and product) and add on a profit margin of what they find a ‘reasonable percentage’, especially when entering into new markets with limited competition. However, there are a number of other important variables that must be considered in order to maximise yields, such as: