Trilogy Spa Holdings, a boutique spa management company serving the “four and five star” hospitality markets, has purchased Trinity Spa Advisors, a boutique spa asset management company, and the addition of Cheryl Sott, Founder / CEO of Trinity, to their team as Vice President of Asset Management. Sott brings a unique combination of Wall Street experience, particularly as an asset manager at Paine Webber (now UBS), and Main Street as a consultant for the spa and hospitality industry across the companies she founded. Sott will oversee the expansion of Trilogy’s asset management division, which works with operational partners and on-site management teams in an advisory role to mitigate risk while maximizing growth. She will also be spearheading the use of one of the tools that drew Trilogy to the boutique business, the exclusive, patent-pending Spa AuditTM Service.
Spa AuditTM is not a mystery shopping. Instead, the new diagnostic and analysis tool uses an objective 350-point examination of a resort or hotel spa company to map the spa’s DNA and identify systemic and acute issues that hamper spa treatments. business goals. Former Trinity Spa Audit clients in locations as diverse as Texas and the Caribbean include a resort that achieved a 725% ROI from the audit and doubled retail sales over the following months.
Trilogy’s purchase of Trinity Spa Advisors and Sott’s experience will allow the company to branch out from full-service spa management contracts and offer one-time diagnostic service to a wide range of spas. After receiving their assessment, Spa Audit clients can choose from Trilogy’s menu of services to meet their specific needs, whether in retail, finance, human resources, systems or operations. Another option for new Spa Audit clients is for Trilogy to provide ongoing monthly spa assistance to execute agreed strategy and tactics, acting as a “coach” to help clients achieve their individual goals. The spa audit could recommend initiatives that may include positioning, pricing, marketing strategy, operational efficiency, revenue management, workforce strategy and support, expense management , negotiating supplier support and customer experience.
Trilogy tasked Sott to apply his Wall Street-level financial analysis, creative tactics, strategies, and six-sigma LEAN operational fixes to luxury spas to help break the cycle of unnecessary reinvention to consistently achieve profitability and achieve results. five-star service standards. This new spa audit service will also benefit Trilogy’s long-term management clients, supporting the company’s mission to turn hotel and resort spas from necessary but unprofitable equipment into assets. customer service and financially sound.
After graduating from NYU, Sott spent a decade on Wall Street, as an asset manager and strategist at Paine Webber with nearly half a billion dollars under management, working with clients such as British Airways. Pension Trust, USPS Federal Credit Union, Candies’ Shoes aka Iconix Brand Group and billionaire Ty Warner.
She then gained expertise in spa brand development and hospitality industry operations as CEO of two product companies Aromapothecary and It’s Intoxicating. Sott founded Trinity Spa Advisors, an asset management firm specializing in nonperforming and underperforming hotel and resort spa assets. White managing director of the company, Sott also completed graduate studies at the Cornell School of Hotel Administration.
“We pride ourselves on our role as a disruptor in the hospitality / spa industry,” said John Grunbeck, senior vice president of sales and business development, Trilogy Spa Holdings. “Entrepreneurially, Cheryl is a two-time disruptor, having created one of the first algorithm-based beauty personalization apps 20 years ago and now a diagnostic audit tool for spas. By joining forces, we are expanding our advisory services and becoming the world’s leading asset management company. Trilogy can also help take the Spa Audit tool to the next level by leveraging Sott’s know-how and our reputation as “spa repairers” to achieve optimal market penetration and truly make a difference in the industry. . “
“I was drawn to Trilogy because of the approach of their management team,” said Sott. “They each have an entrepreneurial spirit, but they also know how to help each other to realize an idea and create a personalized roadmap for the success of each client. “