The global spa industry generates approximately $40 billion in revenue per year, according to Spa Finder, a New York City-based spa travel and marketing company and the publisher of SpaFinder.com and Luxury SpaFinder magazine. But growth in the industry is slowing significantly. The reason is market saturation. Not only are established spas such as the Golden Door and Canyon Ranch battling to hold on to their long-time customers and attract new ones, but there is also growing competition from new stand-alone luxury spas as well as from hotel chains like Peninsula, Four Seasons and Marriot’s Ritz-Carlton chain.
The number of spa openings in the U.S. is increasing at a rate of just 12% per year, down dramatically from the 2000 peak of 51%, according to a 2004 report by the Lexington, Ky.-based International Spa Association. The same report states that U.S. revenue for 2003 ($11.2 billion) represents a 1.8% decline over 2002.
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