ISPA - Partnership Creates New Benchmarking Tool
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ISPA - Partnership Creates New Benchmarking Tool
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Category: Worldwide
This is a press release selected by our editorial committee and published online for free on 2009-09-15
Partnership of ISPA and STR creates new benchmarking tool for the spa industry
The International SPA Association (ISPA) has formed a unique relationship with Smith Travel Research (STR) to expand an online benchmarking tool for spas. The Spa STAR report first launched in 2007 as a benchmarking tool for hotel and resort spas. Now, the program is growing through partial funding from ISPA to include the rest of the spa industry. The online Spa STAR report will allow spas to enter in monthly information on the following metrics: treatment revenue, number of treatments, treatment room hours available, treatment room hours utilized, salon revenue, number of salon services, number of salon stations available, number of salon stations utilized and total retail revenue. This tool will allow spa participants to pull Spa STAR reports showing monthly and historical performances, enabling them to benchmark against other spas.
Members of ISPA will receive an exclusive one-year STR discount through this partnership beginning in January 2010. “The key is to get spas to participate in the monthly reports, so that this can be a valuable resource and a true benchmarking tool,” said ISPA President Lynne McNees. “The hotel industry has relied on STAR reports for years to provide timely information used in their operations, and we are proud to provide all spas the same benefits.”
“In these times of unprecedented economic upheaval spa operators are looking for more sophisticated tools and for actionable information. The Spa STAR report will equip owners, operators and investors with strategic planning tools for the future,” said STR Vice President Jan D. Freitag. “STR looks forward to working with ISPA and its members to assist with benchmarking and data analysis to gain better insights and ultimately allow them to be more successful.”
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