Steiner Spa Consulting (SSC) has launched the Steiner Spa Index, a predictive tool that determines the success and viability of spa projects.
The template, which has been made available for free through Steiner Spa Consulting’s website steinerspaconsulting.com, analyses the key factors of hotels that will impact spa business and benchmarks these against industry metrics through a proprietary algorithm.
The resulting findings – Steiner Spa Index Scorecard — produce a ‘big picture snapshot’ of how a spa will fare before it’s built.
“Hotels need a basic understanding of the business potential of their spa before they invest in the project,” commented VP Trent Munday, who headed the team that created the template using more than 200 spa projects developed by Steiner Spa Consulting.
Steiner Spa Index reviews a combination of metrics including hotel occupancy, average room rate, average food and beverage cheque, hotel guest demographics, nationality and market segments to predict the revenue potential of the spa. It also factors in a number of cost variables such as cost of treatment, product, utilities, and staffing to arrive at an overall profitability of the spa.
“It’s through the combination and weighting of all these factors that we arrive at Steiner Spa Index score that will ultimately determine if we go forward with a project. We also use these scores to advise the owners on how much investment they should put into the spa, based on their specific ROI requirements,” Munday added.