Health & Wellness Industry Report, Issue 2: Thermal Hot Springs

By On 06th June 2016

Rupesh Penkar and Bell Tanyatanaboon of Bangkok-based Horwath HTL Health and Wellness explore the background of the global hot spring industry and its economic performance to determine the industry’s strengths, opportunities, and future trends.

Hot springs are known historically as the first “spas” with roots tracing back to 3,000 B.C., alongside the beginning of ancient civilizations. The natural thermal springs of the Indus Valley, located in modern day Pakistan were the first evidenced multi purpose use hot springs (Erfurt-Cooper & Cooper, 2009). Many early civilizations were well aware of the benefits of water both heated and mineralized, the Romans, Egyptians, and Greeks were engaging in bathing practices that were well ahead of their time and that then largely died out in the following centuries. The Population of China and Eastern Asia, however, has long recognized the use of hot springs as a healing and health resource and their use continued throughout.

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Matthew Brennan

Matthew Brennan, Co-Founder and Director of Horwath HTL Health & Wellness, directs the market research team who author the market research and feasibility studies prepared for spas, wellness centers, bathhouses and wellness-centric hotels and resorts, and leads other administrative functions of the business. Since receiving his BSBA in Finance from The University of Denver in Colorado, USA, Matt has worked in a consulting role on four different continents, including Asia, Europe, Africa and North America, for private property developers, institutional investors and the world’s leading hospitality management companies. Matt co-authored the chapter “Spa Feasibility – Steps and Processes” included in the first spa management textbook titled "Understanding The Global Spa Industry: Spa Management", published by Oxford University Press, and routinely contributes to other industry publications. Matt has been in Asia for nine years and enjoys golfing during his free time.
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