Wellness … However you define it, we all want it.
The hospitality industry is one of the business sectors where consumers of wellness seek it.
The Global Wellness Institute reports wellness tourism is a $640 billion industry. In North America alone, travelers made 204 million trips and spent $242 billion on wellness in 2017.
In today’s episode, Lodging Leaders explores the business of wellness in hospitality. We talk to Kristen Intress, a hospitality industry leader and founder of Fit Farm in Tennessee. We hear from Adam Glickman who helped InterContinental Hotels Group launch its wellness brand, EVEN Hotels, and now heads his own wellness-consulting venture called Parallax Hospitality. Also featured is Emlyn Brown, vice president of well-being for Accor Hotels, and Andrew Gibson, chairman of the Wellness Tourism Association.
If you think wellness is a high-falutin’, hoity-toity amenity only the rich can afford to seek out and enjoy, think again. Wellness is an emerging sector in hospitality, growing at 6.5 percent a year. The growth is spread across hotels of all price segments and guest demographics.
Wellness-minded travelers seek a path that not only introduces them to healthy concepts and choices, but allows them to return home feeling better than when they left.
If your hotel can live up to that promise, you can build a healthy bottom line.
The coronavirus pandemic is forcing the lodging industry to rethink health and wellness. Designers such as Blanche Garcia of B. Garcia Designs see this as an opportunity for hotels to revise their messaging beyond clean and safe by introducing wellness products and programs they can market and attract guests who want to feel good during their stay and return home feeling better than when they left. Those who promote healthy buildings as well as safe travel are exploring how implementing elements of wellness can be a cure for hotel businesses struggling to survive the COVID-19 pandemic and the subsequent economic downturn. This report is part of Long Live Lodging’s ongoing coverage of the coronavirus crisis and its impact on the hotel industry.
She Has a Deal, a program that promotes women as hotel owners, last month minted several new investors through its inaugural pitch competition. Long Live Lodging examines what it took for the three women who comprise the team called Datcher to win the top prize of $50,000 in equity in a fund that would include their $27.4 million project proposed for downtown Detroit. Two additional projects proposed during the competition were selected to benefit from She Has a Deal’s first investment fund. Datcher’s winning formula as well as the other project proposals can be emulated as hotel developers and investors search for ways to fund upcoming projects that reduce investors’ risk while delivering a healthy return as the lodging industry navigates its way through the business downturn caused by the coronavirus pandemic.