It’s become increasingly clear that wellness-minded asset types will become a new class of properties in the market. While these aren’t new, they often include distinct property features that require reconsidering the conventional framework of financing, valuation methodologies, CAP rate averages, and WACC factors. This article describes an outlook for this new asset class to help identify and unlock wellness and sustainability in hospitality finance.
“It’s easy to romanticize the past with sentiments and lessons of nostalgia. It takes courage to embrace and romance the success of the future.” ~ M. Mackman
This article examines the economic and technological impact we can expect in the coming years while balancing risk, maladaptive systems, and radical market movements. This article shares general and useful thoughts to assist those looking ahead and seeking to navigate the next wave of potent change in the hotel and resort spa market. Market Locus […]
“Three simple ways to achieve personal well-being: Eat real food. Have real friends. Do good things.”
~ M. Mackman
Well-being is trust, belonging, physiological, emotional, and deeply spiritual. There are important modes of being well that occur socially and cooperatively. Experiencing societal uncertainties with the need for rapid adaption and change has magnified a widespread need to newly manage life, Self, and personal happiness. This article shares why and what you can do to […]
Since, the definition of wellness touches nearly everything in the realm of life and hospitality from food-and-beverage lineups, quality rooms, sleep, and meeting space to spa and fitness departments, value comes into play in multiple areas. Much like the self-help market has evolved to expand its industry and audience, the wellness-hospitality market is tasked to do the same. This reveals new opportunities to curate an enormous spectrum of personal well-being.
This article highlights preparing for increasing hospitality wellness demand. As global news and media cycles spin with updates related to Covid-19, strategies for reopening and widespread cries for social justice reform. This article examines cycles of grief, critical investment strategies, and wellness propositions associated with immediate and long-term demand. The massive convergence of social, financial, […]
“Logic will get you from A to B. Imagination will take you everywhere.”
~Albert Einstein
Major cities are predictably equipped to manage large scale volume, occupancy and growth. Whereas, smaller communities are often challenged with rapid growth resulting in an abrupt strain on the local city and infrastructure. The term overtourism was coined in 2012, however it didn’t become widely used until 2017. In recent years, it has become an […]
Over the last decade, the spa and wellness sector has faced tremendous growth in the hospitality industry. This evolution has significantly evolved over the last few years. Many hotels and resorts have found it increasingly necessary to adopt new performance models, renovate existing structures, and greatly enhance their food and beverage programs. This has also […]
“Health is the greatest possession. Contentment is the greatest treasure. Confidence is the greatest friend. Non-being is the greatest joy.”
~ Lao Tzu
Airbnb came on the scene in 2008, amidst corporate scandal, economic downturn and instability. Initially people were skeptical, but Airbnb has gained remarkable momentum building its platform with transparency and trust, at a time people were greatly seeking both. In the early years, Airbnb’s inclusive and diverse model provided low-cost travel options with uncommon flexibility, […]
Lessons from 2008 The global impact of the Great Recession between 2007-2008 was extensive and significantly touched the lives of millions of people. In the hospitality industry, customary modes to manage the toll of the recession were often layoffs, budgetary cutbacks and business closures. We witnessed a widespread halt in spending, a slowdown in new development and […]
“The secret of change is to focus all your energy not on fighting the old but on building the new.”
~ Socrates
When it comes to creating program success, identifying impending challenges can be one of the most efficient ways to eradicate gaps in performance and profitability. Some of the most common challenges stem from disjointed department overlays, noncompliance with industry benchmarks and lack of employee training. These areas can either create ripples of proficiency or dilute […]
Spa and Wellness program structures fall into a wide range of performance categories and operating models. For hotels, there are multiple applications that include combinations of relaxation, well-being and treatment-based sessions. While some of the newest and popular trends include features centered on health and lifestyle; there are often wide gaps between drive, delivery, and […]
The original value and objectives associated with spa facilities and wellness programming have surpassed preconceived departmental importance. This article reveals how spa and wellness aspects are disseminated throughout the whole guest experience, and how wellness motivated design and construction elements complement property development, enhance marketability and engagement and is spurring new growth across the hospitality […]
We are living in a time centered around people, purpose and progress. While the need to remain adaptable and manage one’s daily schedule endures. Lifestyles are evolving led by a multitude of new social, political and professional changes. This has created a substantial and prevalent focus on being happy, and living with passion, energy and […]
There was a time when tenured employment was a standard practice. People would stay at one place for many years before moving on to a new employer or exploring different career opportunities. This was once a preferred way-of-life for many people and companies. This created strides in performance, opportunities for promotions and job stability. Since […]
“The adventure of life is to learn. The purpose of life is to grow. The nature of life is to change. The challenge of life is to overcome. The essence of life is to care.”
~William Arthur Ward
This chart describes a 3-tier revenue hybrid model I have formulated to increase operational efficiency, lower staffing risks, and increase performance tracking. These components are broken down into three groups to diversify sales, service types and revenue. Tier 1: Manual Treatments and Services Manual Services traditionally represent 80% to 90% of a spas gross revenue. Associated […]
“You’re off to Great Places!
Today is your day!
Your mountain is waiting,
So… get on your way!”
~ Dr. Seuss
The global spa movement, which includes wellness tourism, amounts to upwards of $3 trillion dollars per year. What physical and strategic elements are key to driving bottom-line performance at traditional and wellness-focused spas? This article looks at the scope of growth for traditional and wellness-focused spas worldwide, as well as the physical and operational keys to building stronger bottom-line performance.
Technology and automation are making exponential headway touching nearly all sectors of hospitality, including spa and wellness. This article reviews the impact and importance of integrating these systematizations to help stimulate and streamline the functionality and profitability of hotel and resort spa operations. Retooling the focus to embrace new technologies, profitability, and growth.
This article examines the central mainstays of delivering wellness with a mission and purpose that effectively ties to company cornerstones, employee ethos and crafts genuine, wellness-focused guest experiences. This article also looks at internal value propositions that add meaningful engagement, and enhance employee investment in stride with operating and fiscal performance through-
Growth in travel and tourism continues to rise in conjunction with intergenerational lifestyles, shifting values and increasing wellness keynotes. Every generation has unique preferences and imperatives that set them apart and stick. Accounting for nearly half of the population, Millennials and Generation Z have considerable weight in the market share.
Why Automation and Technology are Vital to Industry Growth By Mia A. Mackman One of the biggest challenges we are facing in the Spa and Wellness industry is replenishing our talent pool with a constant flow of new members into the workforce. This is a budding crunch. We are seeing signs of this across all […]
Global travel and hospitality markets continue to thrive with multicultural diversity and wellness. Being connected to people around the world has become a fixture of life. This is partially evidenced in the remarkable rise of international and domestic travel. Our ability to experience new people, places and exotic destinations is
Some of the biggest challenges we see in the workplace stem from mismanagement, conflict, divergence or customer service issues. Understanding the ecosystem of your work and life is essential.
“If you can’t fly then run, if you can’t run then walk, if you can’t walk then crawl, but whatever you do, you have to keep moving forward.”
~ Martin Luther King, Jr.