Trilogy Spa Holdings buys spa asset management company

0

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 VP 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 to the spa and hospitality industry through the companies she founded. Sott will oversee the expansion of Trilogy’s asset management division, which works with operating partners and on-site management teams in an advisory role to mitigate risk while maximizing growth. She will also spearhead the use of one of the tools that attracted Trilogy to the boutique business, the exclusive patent-pending Spa AuditTM service.

The Spa AuditTM is not a mystery visit. Instead, the new diagnostic and analysis tool uses an objective 350-point examination of a resort or hotel spa business to map the spa’s DNA and identify systemic and acute issues that are hampering business goals. Past Trinity Spa Audit clients in locations as diverse as Texas and the Caribbean include a resort that achieved a 725% return on investment from the audit and a doubling of retail sales in subsequent 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 support to spas to execute agreed strategy and tactics, acting as a “coach” to help clients achieve their individual goals. The spa audit can recommend initiatives which can include positioning, pricing, marketing strategy, operational efficiency, revenue management, workforce strategy and support, expense management, negotiation of supplier support and customer experience.

Trilogy tasked Sott with applying his Wall Street-level financial analysis, creative tactics, strategies and LEAN six sigma operational fixes to luxury resort spas to help break the cycle of unnecessary reinvention to consistently achieve profitability and achieve five-star service standards. This new spa audit service will also benefit Trilogy’s long-term management customers, supporting the company’s mission to transform hotel and resort spas from necessary but unprofitable amenities 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 operations in the hospitality industry as CEO of two product companies Aromapothecary and It’s Intoxicating. Sott founded Trinity Spa Advisors, a boutique asset management firm that focuses on underperforming and underperforming hotel and resort spa assets. White, the company’s managing director, Sott also completed post-graduate studies at the Cornell School of Hotel Administration.

“We are proud of our disruptive role in the hospitality and spa industry,” said John Grunbeck, senior vice president of sales and business development, Trilogy Spa Holdings. “Entrepreneurally, 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. joining forces, we amplify our advisory services and become the world’s leading asset management firm 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 their management team’s approach,” Sott said. “They each have an entrepreneurial spirit, but they also know how to support each other to bring an idea to life and create a personalized roadmap for the success of each client.”

Share.

Comments are closed.