PRODUCT NEWS
Your spa’s (financial) health matters too!
21 Oct 2021 . BY Megan Whitby
Implementing revenue management strategies may seem arduous for understaffed spas, but software can streamline the process / Shutterstock/gpointstudio
Implementing revenue management strategies may seem arduous for understaffed spas, but software can streamline the process / Shutterstock/gpointstudio
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.
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News   Products   Magazine
PRODUCT NEWS
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.
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PRODUCT NEWS
2022 ISPA Conference keynotes will empower attendees to tackle challenges head-on
The 2022 ISPA Conference boasts a lineup of keynote speakers who are sure to light up the main stage for three inspiring Power Sessions from 2- 4 May at Mandalay Bay in Las Vegas, NV.
To inspire and inform: ISPA gears up for 2022 conference in Las Vegas
Join ISPA at its 2022 ISPA Conference where the most innovative spa products and services on the market will be showcased for motivated spa buyers from all sectors of the spa industry to explore and access.
Art of Cryo offers personalised whole-body cryotherapy solutions
Art of Cryo, a division of L&R Kältetechnik with 30 years’ experience with -110 °C electrical solutions, offers the most advanced high-performance cryo-chambers
Comfort Zone: Davines Group and Rodale Institute launch a new partnership to sustain regenerative agriculture
The Comfort Zone - Davines Group and Rodale Institute have partnered to create the first International Regenerative Organic Research & Education Center in Parma, Italy.
Innovative studies on cell senescence inspire Comfort Zone’s new approach to anti-ageing
With the relaunch of Sublime Skin, the Comfort Zone R&R team has further deepened its knowledge of skin ageing mechanisms in order to offer even more complete cosmetic solutions.
Comfort Zone has prevented 100 tons of plastic from entering the ocean in 2021
In line with its pioneering path to produce products that are good for both people and for the planet, Comfort Zone has partnered with Plastic Bank.
+ More products   
 
COMPANY PROFILES
Book4Time Inc.

Founded in 2004, Book4Time is a global leader in spa, wellness and leisure activity management solut [more...]
+ More profiles  
CATALOGUE GALLERY
+ More catalogues  

VIDEO GALLERY

Sommerhuber GmbH - Ceramic heated LOUNGER ONE PLUS - ultimate relaxation
Lounger One Plus is characterized by an organic aesthetic, delicate contours and an ideal lying comfort. Comfortable ergonomically shaped Heat Storing Ceramics nestle the skin and provide for perfect relaxation – touchless enjoyment meeting the highest hygiene standards. Find out more...
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DIRECTORY
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DIARY

 

01-03 Feb 2022

Spatex 2022

Coventry Building Society Arena, Coventry, United Kingdom
01 Mar 2022

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Live Love Spa HQ, Tustin, United States
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