ABSTRACT
First it was golf-based communities, next came speciality recreation-based resort communities such as ski, marina or equestrian based, with each generating their own appeal to somewhat limited recreational real estate market niches. Now, a growing trend is integrated resort communities and residential developments which have established spas and wellness centres as their key focus. Their appeal is much wider demographic segments than single-based activity real estate developments. Plus, on top of selling traditional recreation experiences, healthy lifestyles and wellness are the new ‘fountains of youth’ behind these new resort products, enabling purchasers to ‘live younger longer’. This chapter outlines the key trends and characteristics of the spa and wellness industry that underlie this development evolution, who has already embraced these trends from a real estate development perspective and what is needed for their success. Lastly, it reveals that some developers are now examining how to create a multi-faceted town centre using spas and wellness as the core of both their residential and commercial facilities.
