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Since 1997 the spa industry has grown from a $2.1 billion dollar business into a $15 billion venture. The spa, meanwhile, has emerged as a powerful driver behind some of the world's largest business segments—from travel and hospitality to healthcare. According to Spa Finder, Inc., the global spa resource, you can now add real estate to that list. Spa Finder reports that premier spa, hospitality and real estate developers are introducing a diverse range of residential properties nation- and worldwide that combine luxury living with a spa component. These hot-selling new "spa lifestyle real estate" properties are quickly transforming the spa from something you merely go to into something you can also live in.
"When it comes to luxury living, spas are becoming what golf courses became 30 years ago—a must-have amenity, providing aging baby boomers with their most important lifestyle requirements, namely health, wellness and fitness, pursued in a spa setting," said Spa Finder, Inc. President Susie Ellis. "The idea of living in a community where the spa and spa living are central holds tremendous appeal, particularly for a new generation of health-focused vacation and second home buyers; it's an idea whose time has come."
According to Ellis, marquee spa/resort brands like Canyon Ranch, Wyndham Resort's Golden Door Spa, Greenbrier, Red Mountain and Miraval are leading the spa residential real estate boom, providing diverse ownership options—e.g. full-time residences, condo hotels, fractional ownership, residence clubs, etc. - that come with access to spa services and programs. Some of the biggest names in luxury hospitality are following suit, including St. Regis, Ritz Carlton, and Four Seasons. Established high-end communities are also joining the game, including Saguaro Ranch in Arizona and Big Horn Golf Club in California, which has seen real estate sales skyrocket since adding extensive spa facilities. These companies, along with prestige builders such as Turnberry, WCI Communities, Ginn Company and the Trump Corporation, are all complementing traditional luxe residential amenities with "healthy living" offerings like hiking, spa cuisine, yoga, extensive fitness facilities, and wellness programs.
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