Intelligent Spas‘ published the first-ever Spa Industry Report for Greece and identified the spa industry is expected to generate 15 million euros (approximately USD 22 million) in revenue in 2011. This new report presents an extensive range of business intelligence and financial statistics to assist businesses operating in, or interested in, the Greek spa industry…
Intelligent Spas‘ published the first-ever Spa Industry Report for Greece and identified the spa industry is expected to generate 15 million euros (approximately USD 22 million) in revenue in 2011. This new report presents an extensive range of business intelligence and financial statistics to assist businesses operating in, or interested in, the Greek spa industry.
"The Greek spa market experienced overall growth in revenue between 2008 and 2010, however visitor numbers proved unstable and are predicted to fall in 2011," explained Julie Garrow, Managing Director of 100% independent research company Intelligent Spas. "The key per spa benchmarks have also experienced decreases including revenue, visits and employment and are predicted to fall further, suggesting challenging times ahead for Greek spa operators. These research findings are very timely to help guide the short term operations of spas and other types of businesses supporting the spa industry in Greece."
Stavros Mavridis, Executive Director of the Spa Managers Club of Greece added "the Spa Managers Club of Greece (SMCG) is extremely pleased to have supported the first-ever Greek spa industry report compiled by Intelligent Spas. It will serve to highlight the importance of the spa and wellness sector to the Greek tourism industry, especially through these difficult economic times. This research will be extremely useful to owners and key people holding managerial positions in order to adapt efficient business strategies, implement new spa trends, identify new business opportunities, maximise overall performance and recognise the need for change. The report will enhance SMCG’s image in promoting its vision and at the same time, contributing to the growth of the Greek tourism industry."
Key Research Findings
– Spa numbers increased by 38% between 2008 and 2010.
– Revenue per visit increased by 6% between 2008 and 2010.
– Visits per spa is forecast to decrease by 21% in 2011.
– Massages make up over half of spa revenue.
– Hotels and resorts offering spas averaged almost 70% occupancy.
Spiros Gaitanidis, Member of Spa Managers Club of Greece added "the new Greek Benchmark Report is an important tool in the growth and future development of spa industry. The statistics released by Intelligent Spas allow all investors and spa operators to identify weaknesses and strengths in their business planning, to maximise their profit potential and opportunities, and most importantly to plan for the future based on true factors, rather than on speculation."
Intelligent Spas’ Global Spa Benchmark Program is currently underway in over 100 countries and aims to produce usable statistics to help spas maximise their performance, provide business intelligence to assist other organisations to better understand, service and support the spa industry, plus generate greater awareness of the spa industry to increase spa visits.
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