• 19 December 2018
Growing Market of Cosmetic Beauty Services in a Luxury Hotel Environment  - Can You Capitalize It?

Growing Market of Cosmetic Beauty Services in a Luxury Hotel Environment - Can You Capitalize It?

The global wellness economy is growing at an unprecedented rate, and was valued at over $3.7 trillion in 2015. Making up the largest share, the beauty and anti-aging market equated to $999 billion, being almost twice the size of wellness tourism ($563 billion). The current demand for physical enhancement and aesthetic cosmetic improvements is usually founded by personal dissatisfaction and a strong desire for attractiveness, as well as a healthy and youthful appearance. The cosmetic industry is commonly divided into three distinctive subsections: non-invasive, minimally invasive and invasive treatment/surgery; however, minimally invasive procedures are usually sub-divided into injectables, energy based and cosmeceutical services.

The international medical aesthetic treatment market is expected to rise to US$6.56 billion by 2018, led by non-invasive treatments such as Botox and HA, but also a variation of energy based services (lPLs, laser), driving the future medical aesthetic demand globally – especially in Asia. The facial aesthetic market is expected to grow at a CAGR of 9.82% until 2020; a shift from invasive to non-invasive treatments is evident.

At Horwath HTL Health & Wellness, we recognize opportunities to convert a cost centre into a revenue centre for urban upscale and luxury hotels by implementing some of the below highlighted services, depending on the subject location and access to supply.

Aesthetic and longevity component will cater towards both male and female consumers; however, past assignments have shown that aesthetic treatments are more popular with women and the longevity services are more popular with male high-net-worth individuals (HNWIs). The longevity treatment service is a low-cost high-margin opportunity (margins above 2,200%) for every urban upscale and luxury hotel. By offering this type of specialised facility within the common spa environment, creates a niche for itself to capitalise on a high margin industry.

Detoxification treatments, such as chelation, liver detox and lymphatic drainage, are intravenous therapies and experience high demand from visitors above the age of 36 years. The demand for energy boosters (Myer’s cocktail, megadose vitamin (MPV), and Ozone IV therapy) similar to immune booster (QRS, mesenchymal stem cell, and others) is booming in the age category of 65 and above. Both treatment segmentations represent an attractive and a relatively straightforward additional revenue centre for every spa facility.

Recent studies have shown that lack of recreational sleep may have a severe effect on the physical health, the body’s ability to restore and reproduce the cell activity, and cause an increased risk of obesity, diabetes, cardiovascular diseases, hypertension, immune function, and even the common cold. The incorporation of a sleep-testing centre requires a computerized sleep lab assessment centre (polysomnography) to assess snoring patterns, insomnia, bruxism, and abnormal nocturnal leg movements. This may be further enhanced providing a specially designed testing environment guest room. The complete report – “Cosmetic Beauty Services – Horwath HTL”, provides more information on current spa trends and opportunities.

This research illustrates that there is still an unexplored opportunity to implement a number of high-yielding cosmetic treatments within the hotel spa environment, incurring a reasonable investment volume and utilizing less than 150 square meters of space. A total investment amount of US$47,000, separated between US$28,500 for specialized equipment (e.g. microdermabrasion), US$10,000 for medical dispensary and storage and US$8,500 for a selection of medical support materials, serves as a standard investment assumption, per medical aesthetic spa room.

We believe that common hotel spas do not capitalize sufficiently on this ever-growing industry, whereas, an efficient implementation with a specifically tailored selection of services will not only elevate the spa facilities’ reputation, but also open doors to a new customer segment with high disposable income.

Read Full Report http://horwathhtl.com/2017/05/12/cosmetic-beauty-market/ 

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