Everyone’s talking about
ased on our cost structures and excel-
B
performance, SAMIR PATEL lent growth opportunities.
certain parts of
Managing director,
Investors who understand
Asia still seem the nuances of these
to be doing quite well. T_h e
Six Senses Spas
markets, and can create
Maldives and Vietnam dif_f erentiated local experi-
are holding up better than ences of a global standard,
T_h ailand, while China, India, Bali and spas in the pipeline in India, Oman and have the chance to be pioneers.
the Philippines are also doing alright. If Morocco. However, some of our resort India, in particular, has huge potential
a country is viewed as a value-for-money projects, in countries such as Brazil and thanks to its economic stability and a
destination, that’s an advantage, and when Vietnam, have been put on hold for one.fittedtwo.fitted-one.fittedeight.fitted young population with strong purchasing
there is uncertainty in one country – such months because of the economic situation. power. T_h e Indian economy has been
as the recent unrest in T_h ailand – then its Nevertheless, there are opportunities cushioned from the full force of the global
neighbours certainly benef_i t. In countries in all parts of the globe for someone with recession by its domestic consumption
such as China and India strong domestic cash to invest. Countries with the most patterns. However, while investors are in a
markets are also helping maintain potential include China, India, Sri Lanka, good position to exploit this, the system’s
demand (see ptwo.fittedzero.fitted). Vietnam, Cambodia, Morocco and Brazil complexity and the need for local market
Within Six Senses, our spa development – in fact, Latin America as a whole. T_h ese knowledge continue to act as rumble strips.
projects are largely on track – we’ve just places all have changing population pro- In the longer term, emerging markets for
opened a spa in Egypt, we have one in f_i les with greater purchasing power than hotel and spa development will continue
Paris opening later this year and another ever before. T_h ey’re also becoming more to grow and mature, and spas will still
in Kuwait in February two.fittedzero.fittedone.fittedzero.fitted. We also have politically stable and they have attractive penetrate all segments of the hotel sector –
but with a new emphasis on wellness and
transformation rather than just pampering.
“There are opportunities in all parts of the globe for someone
with cash to invest. Countries with potential include China,
An Asia-based resort and spa development
and management company, Six Senses
India, Sri Lanka, Vietnam, Cambodia, Morocco and Brazil”
currently has one.fittedthree.fitted resorts and two.fittedfour.fitted spas across
the globe. Details: www.sixsenses.com
I
n terms of hotel and there will be some good
spa investment, the ARTHUR DE HAAST opportunities there.
Middle East is holding
Global CEO,
In north Africa, both
up best overall, although Morocco and Tunisia are
some countries are doing
Jones Lang LaSalle Hotels
coming strongly back into
better than others. At fashion as destinations
present, Abu Dhabi, Qatar, for European travellers, so
Bahrain and Saudi Arabia all seem to be India is another country with great there are openings there. New markets
doing very well. T_h ey entered the cycle potential, despite a fairly serious blip such as Libya and, to a lesser extent,
later than Dubai, so supply did not get so recently. Before the downturn, a lot of the Algeria are also emerging, but they’re
far ahead of demand. T_h at put them in a demand in India was international and more corporate and, I would think,
stronger position when demand slowed corporate-driven. A decline in that, com- they’re very dif_f_i cult environments in
down, and the development now under bined with the terrorist attack in Mumbai, which to operate a spa business.
way should coincide with a recovery in meant the last quarter of two.fittedzero.fittedzero.fittedeight.fitted and the Europe is pretty universally tough at
demand. So projects there are continu- f_i rst quarter of this year were very tough. the moment, although Scandinavia has
ing and, certainly in Saudi Arabia, new However, the re-election of the Congress been hit less hard, and London is holding
projects are being announced. Party in May has brought greater stabil- up quite well thanks to the weak Sterling,
Other bright spots include Bali, where ity to the business community and will which is helping to attract leisure travellers
demand has held up pretty well. Some of encourage new investment. from mainland Europe. And while travel-
China’s resort destinations, such as Hainan From a development perspective, I’d lers across all markets are being more
Island, also seem to be prospering, prob- look at mid-scale hotels targeting the do- careful with their ancillary spend, a lot of
ably because the government has slowed mestic market, and also some of the resort hotels in developed countries have been
down the issuance of visas for internation- locations – despite having some fantastic very successful at marketing their spas to
al travel, encouraging its citizens to visit hotels, India is still relatively undiscovered day guests – so spa remains an important
domestic destinations instead. In contrast, by the international tourist. part of the package for hotel investors.
major cities such as Beijing, Shanghai and Brazil also has potential, thanks to
Guangzhou are seriously over-supplied, its extensive coastline. Several projects Jones Lang LaSalle Hotels is an
as they’re very dependent on interna- already under way in the north-east have international hotel investment
tional corporate travel; hotels targeting the been put on hold following the downturn, services company. Details:
domestic market are doing better. but in f_i ve to one.fittedzero.fitted years’ time, I believe www.joneslanglasallehotels.com
SpSPa BuA BUSINESS 4 2009SineSS 4 2009
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