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Spa Market Rising Demand 2019 - Four Seasons Hotel limited, Massage Envy Franchising LLC, Emirates Palace, Six Senses Hotels Resorts Spas, Jade Mountain Resort, Gaia Retreat & Spa, Ananda, and Lanserhof Tegernsee
Spa Market
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Key players operating in the global spa market include Four Seasons Hotel limited, Massage Envy Franchising LLC, Emirates Palace, Six Senses Hotels Resorts Spas, Jade Mountain Resort, Gaia Retreat & Spa, Ananda, and Lanserhof Tegernsee
Spa tourism is for the purpose of ‘relaxation, healing or beautifying of the body in spas using preventative wellness and/or curative medical techniques’ and hence, there is a conceptual overlap between wellness and spa tourism. Spa is a core business within wellness tourism and accounts for a major portion of the wellness tourism economy. According to Global Wellness Economy Monitor, out of US$ 3.7 trillion global wellness economy in 2015, spa industry accounted for US$ 99 billion. Out of wellness sectors such as spa facilities, thermal/mineral springs, wellness tourism, work place wellness, and wellness life style real estate; wellness tourism is estimated to project 7.5% annual growth rate from 2015-2020.
Asian hospitality market is gaining significant traction. Market players are recruiting top executive talent to lead their spa divisions in Asia and integrating their traditional spa modalities with modern wellness culture. Fusion of western contemporary with eastern traditions are giving an authentic feel to spa rituals such as massages, spa therapies, and spa cuisine.
North America’s spa industry is growing at a faster pace with major share held by U.S., followed by Canada. According to Global Wellness Economy Monitor, in 2015, North America had total 28,306 spa facilities with 24,421 concentrated in the U.S. alone. According to International Spa Association in the U.S., 179 million spa visits were reported in 2015, and the number of resort/hotel spas at the end of 2015, was estimated to be 1,800 representing a rise of 1.3% 2014 level. According to this study, total employment in the US spa industry was 359,300 and day spa accounted for largest share, followed by hotel and medical spa.
Key players operating in the global spa market are adopting various inorganic growth strategies such as partnership & collaboration to expand their businesses. For instance, in June 2017, The PGATOUR and Massage Envy announced a four-year partnership designating Massage Envy as an Official Sponsor of the PGATOUR and PGATOUR Champions with the Official Total Body Care Sponsor of the Player Performance Centers.
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