June 04, 2012

Spa Benchmarking: from where to get reliable research

Following the Beauty World Middle East, held on May 29-31st in Dubai World Trade Centre, RSVP Hospitality introduced a "Key Performance Indicator" and "Revenue Maximization" presentations to the audience.

Spa benchmarking is one of the "hottest" topics in the spa and hospitality industries. There are too many studies, surveys, that lack the credibility, integrity and quality especially when the data are exchanged without a third party. Who could rely on an Average Treatment room check from a competitor, down the street?

Poor information, suggestions or recommendations can be very harmful to your business, especially when you rely on this information to make operational, personnel, marketing and financial decisions.

We, all know that every owner like to claim, being the best in town, getting the best revenues and profitability. It's time to be realistic. Those reports may cost you less than USD 1 or 2 per day, so I am sure no one will have an objection, to get realistic accurate data.

The fact is you cannot manage what you cannot measure. It is important that you start tracking at least 03-05 metrics to review accurate analysis of your spa. Spa and Beauty salons needs to track numbers internally, as well as compare them with the market level information.

To my mind, there are three companies that can provide reliable information about Spa benchmarking in the Middle East:

1) Intelligent Spas
Website: http://www.intelligentspas.com
Type of Spas: ALL
Reports cost: USD 300.00

It is one of the dedicated spa-specific research company that collect, analyze and display report findings. Founded in Singapore, in 2001, Intelligent Spa assists in research in over 90 countries. Intelligent Spa also publishes a range of Spa Operational Manuals design to assist spa business raise services standard, improve customer satisfaction.

2) Ernst and Young
Website: http://www.ey.com/EM/en/Industries/Real-Estate
Type of Spas: Selected hotel spas
Reports cost: USD 795.00

3) PwC
Website: http://www.pwc.com/m1/en/publications/
Type of Spas: Selected hotel spas
Reports cost: TBD

Soon, there will be a fourth one (Q4, 2012 in the GCC) with The Benchmarking Alliance, visit the link: http://www.benchmarkingalliance.com

Just to clarify, Revenue Management is a principle that is used to enhance a firm's revenues by selling the right product to the right customer at the right time at the right price. It is important to note that Revenue Management is not meant to trick the customer into paying more than she or he is willing to pay. 

Instead, it is a way to acknowledging customers' different needs and perceptions of value and catering to those needs. 

Best Regards,

Romain @ RSVP-Hospitality

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