Fancy Destination Spas Hurting From Rival Day Spas In Hotels And Shopping Centers

Real Estate Channel:

Times are a-changing, even for those fancy and expensive destination spas. They are hurting badly from rival day spas now surfacing rapidly in many major hotels and shopping centers, The Wall Street Journal reports.

Take the 45-year-old Greenhouse Spa in Dallas, TX suburb of Grand Prairie, for example. It goes on the auction block Nov. 19. The bidding starts at $3 million.

CBRE Auction Services will handle the auction, which will include the 5.7-acre property and its furnishings. Owner Jerry Katzoff, hopes to get at least $10 million.

But he may be disappointed, hint some industry analysts.

“The one-week stay isn’t the norm anymore,” Katzoff tells the WSJ. He bought the women-only Greenhouse Spa in 1989 but didn’t disclose the price. Read more.

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