Trilogy Spa Holdings, a spa management firm, has purchased Trinity Spa Advisors, a spa asset management firm. Trilogy also has added Cheryl Sott, Trinity’s founder and CEO, to its team as VP of asset management.
Sott has experience on Wall Street, particularly as an asset manager at Paine Webber (now UBS), and as a consultant to the spa and hospitality industry through the companies she founded. Sott will be overseeing the expansion of Trilogy’s Asset Management Division, which works with operating partners and onsite management teams in an advisory role to mitigate risk while maximizing growth. She also will spearhead the utilization of one of the tools that attracted Trilogy to Trinity: the patent-pending, proprietary Spa Audit Service. Spa Audit is a new diagnostic and analytical tool that uses a 350-point objective review of a resort or hotel spa business to pinpoint systemic and acute issues standing in the way of business objectives.
Trilogy aims to diversify from full-service spa management contracts and offer a one-time diagnostic service to a wide range of spas. After receiving their assessment, Spa Audit clients can select from Trilogy’s menu of services to address 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 for spas to execute agreed-upon strategy and tactics, acting as a “coach” to help clients achieve their individual goals. Spa Audit recommendations could include positioning, pricing, marketing strategy, operational efficiencies, revenue management, labor strategy and support, expense management, vendor support negotiation and guest experience.