products   features   news   CLADglobal   CLADweek   CLADmag   CLADbook   about   contact
CLAD kit for architects, designers, investors, developers
Your spa’s (financial) health matters too!
21 Oct 2021 . BY Megan Whitby
The time has come for the spa industry to realise its financial potential
– Frank Pitsikalis
Spas are so focused on the health of their guests and staff that they often neglect their own financial health.

“Spas leave money on the (treatment) table by not taking advantage of periods of fluctuating demand,” says Frank Pitsikalis, founder and CEO of ResortSuite, a guest-centric hospitality management solutions company.

“This can be attributed to spas having limited resources to undertake the required analysis or fear of guest reactions to fluctuating prices, a practice called dynamic pricing."

Dynamic pricing is just one method of revenue management, dynamic availability is another.

Dynamic availability is the scheduling of higher-margin treatments during periods of peak demand and scheduling lower margin treatments to off-peak periods.

“With dynamic availability, a spa can maximise profitability during peak demand times, fill otherwise empty time slots in off-peak times with low profitability treatments, all without changing prices,” Pitsikalis added.

Implementing revenue management strategies may seem arduous for understaffed spas, but software can streamline the process.

ResortSuite’s SPA module contains a yield management tool that allows directors to analyse the profitability of treatments and create rules that are triggered automatically by the software adjusting treatment availability based on demand.

Reports are then automatically generated, allowing directors to analyse results and adjust accordingly.

“The airline industry has been using revenue management since the 1970s," Pitsikalis said.

“Not only has it allowed them to increase profits, but they now serve a much wider demographic than pre-revenue management.

“The time has come for the spa industry to realise its financial potential.”

Request a demonstration at ResortSuite’s official website.
Premier Global NASM teams up with Your PT to create new career pathway for learners
BY Journalist | 30 Nov 2021
Active IQ strikes up partnership with Myzone
BY Megan Whitby | 26 Nov 2021
Active IQ wins Exporter of the Year award
BY Megan Whitby | 24 Nov 2021
Beata Aleksandrowicz’s new beauty range designed to help facial massage become a mindfulness practice
BY Megan Whitby | 24 Nov 2021
Germaine de Capuccini launches Expert Lab cosmeceutical range
BY Megan Whitby | 22 Nov 2021
Decléor launches new Vitamin Glow Cream enriched with citrus essential oils
BY Megan Whitby | 19 Nov 2021
Tara Well Bar launches to expand the guest wellness experience beyond spa walls
BY Megan Whitby | 17 Nov 2021
New cloud-based bookings and business management software launches for spas, health clubs and leisure facilities
BY Megan Whitby | 15 Nov 2021

Being able to create award-winning spas, offering a full interior design package and a technical ability to supply spa wet area solutions, offering flexible and cost-effective services unrestricted by geography or size.

Founded in 1959, Barr + Wray is recognised as a world-leading provider of spa design, engineering and pool & spa equipment.

more catalogues >

Pop-up stadium built with shipping containers opens ahead of 2022 World Cup
A fully demountable stadium, designed by Fenwick Iribarren Architects and built from shipping containers, is now open and ready to host games during the FIFA 2022 World Cup.
John McAslan + Partners-designed M7 cultural hub and museum opens in Doha
A new creative hub in Doha looks to position itself as the new heart of Qatar’s fashion and design industry – as well as a public showcase for innovation and entrepreneurship in the region.
Luxury eco hot springs development to position Victoria as Australia’s wellness state
A sustainable hot springs retreat is set to open in Fingal on Australia’s Mornington Peninsula, Victoria, drawing on the healing benefits of water, immersion in nature and sleek minimalist design.
Herzog and de Meuron’s M+ museum of visual culture distils essence of Hong Kong
M+, described as Asia’s first global museum of contemporary visual culture, has opened in Hong Kong.
JRA becomes part of the RWS Entertainment Group
Experience design firm JRA has been acquired by live entertainment specialist RWS Entertainment Group. The news was revealed in a press conference today (16 November) at the IAAPA trade show in Orlando Florida.
Eden Project partners with Grimshaw to create pavilion and drone show at COP26
The Eden Project has partnered with architectural practice Grimshaw to create a special pavilion at the COP 26 2021 United Nations Climate Change Conference in Glasgow.

Leisure Media. Tel: +44 (0)1462 431385

© Cybertrek 2021