PERSPECTIVE
WELLNESS DEMAND IS A BOON FOR HOTELS . What opportunities are they missing ?
Contributed by CHARLOTTE KANG , JLL VALUATION & ADVISORY
T
he evolving consumer landscape has witnessed a remarkable shift toward prioritizing wellness and holistic wellbeing . People are becoming increasingly aware of the importance of various aspects , such as optimal health , physical fitness , well-balanced nutrition , personal appearance , mindfulness practices and restful sleep . As a result , individuals are seeking immersive experiences that cater to these needs . This demand has created a significant overlap between the wellness and hospitality industries , where establishments can provide guests with much-needed wellness-oriented offerings . In this article , we will explore the intersection of these industries and uncover the untapped potential that exists within this space .
RISING WELLNESS SPEND In recent years , consumer spending on wellness-related products and services has witnessed a significant surge . People are now more inclined to invest in experiences that enhance their overall wellbeing . According to the Global Wellness Institute ( GWI ), the global wellness market was valued at $ 4.9 trillion in 2019 and is projected to grow at an average annual rate of 9.9 % to reach $ 7.0 trillion in 2025 . The upward trajectory indicates a strong and sustained demand for wellness offerings worldwide .
EXPANDING THE DEFINITION OF HOSPITALITY Hotels and resorts have been quick to recognize this shift in consumer behavior . Beyond just offering comfortable accommodations , these establishments are incorporating wellness elements into their services to meet the growing demand . Now , wellness encompasses not only physical health but also mental and emotional wellbeing , which broadens the scope of offerings that include :
• Sleep and room comfort with comfortable bedding , soundproof rooms , blackout curtains — even aromatherapy to enhance the sleep quality of guests . Ensuring quality sleep has become an integral part of wellness .
• Healthy dining options as the hospitality industry is increasingly focusing on providing guests with nutritious , locally sourced food options . Menus are being curated to accommodate various dietary preferences , including vegan , gluten-free and organic choices , fostering better
34 hotelsmag . com October 2023