INTERVIEW: RICH WEISSMANN


KSL, which only invests in travel and leisure, has a


share in Whistler Blackcomb


The design and development of


properties is something the company takes very seriously. “We’re very involved,” says Weissmann. “We’re one of the few funds that actually has a development officer and a team [who concentrate on that]… We don’t leave it to chance or somebody else, because you can lose a lot of money doing bad renovations.” In terms of locations, its looking for


“places that have a compelling physical presence… in settings that conform with the mindfulness of what Miraval stands for.” When Revolution first unveiled plans


to roll out the brand, vice-chair Philippe Bourguignon identified proximity markets – within a two-hour drive – as key to making the model a success (see SB12/4 p7) and Weissmann confirms that this remains a consideration, albeit not a central one. “We want locations that are geographically advantageous as well as having the ability to attract drive-to customers, because they’re more likely to generate repeat business. It’s not critical, but it’s something we’re taking account of.”


Making money Back at Tucson, the current priority is to develop and enhance the guest experience and to balance that against profitability. “The way we look at businesses, we look


32 spabusiness.com issue 1 2015 ©CYBERTREK 2015


at all the major departments as businesses within the resort itself,” says Weissmann “So for instance, the spa has to have a P&L [statement] and show that it can be profitable relative to food and beverage and rooms. It’s not necessarily targeting [specific areas for improvement]; it’s keeping people accountable. “On the cost side, we’re maximising the


use of group purchasing and making the most efficient use of labour. In terms of room product, we’re managing the room distribution and yielding those rooms in the most effective way… a lot of it is just tweaks here and there.” One area earmarked for extra attention


is fitness. The difficulty, says Weissmann, is that while guests will pay for spa treatments, fitness at resorts is typically considered to be an amenity. “Today, fitness isn’t really a focus at Miraval,” he admits. “Our goal is to have the fitness offering match the quality of the wellness and spa offering [at the Tucson site] by adding programming that creates value for people.” In the new resorts, he adds, fitness may offer outside memberships, though this will not be the case in Tucson. Generally speaking, Weissmann


believes too many people in the global industry are guilty of buying into the self-perpetuating myth that spas are not


KSL INVESTMENTS


Some of KSL’s current investments include:


● The Belfry (UK) ● ClubCorp country clubs


(across the USA) ●


East West Partners (real estate


developments across the USA) ●


The James Royal Palm hotel


(Miami, Florida, USA) ●


Malmaison and Hotel du Vin


hotel chains (across the UK) ●


Miraval Resort & Spa


(Tucson, Arizona, USA) ●


Squaw Valley/Alpine Meadows


ski resorts (California, USA) ●


St Regis Monarch Beach


(California, USA) ●


Village Urban Resorts (across the UK) ● Whistler ski resort (Canada)


KSL has a 24 per cent share in Whistler Blackcomb Holdings, one of the main companies behind the Canadian ski resort


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