Skip to content
The Financial Modeller
Build free
Fitness, leisure and attractions

Day spa and wellness retreat financial model, built free.

A three-statement Excel model for a wellness retreat, day spa and hot springs, built from your own figures and checked to balance.

  • Free account
  • No card
  • Usually ready within the hour

We use generative AI in parts of our process, so mistakes can occur. Every model should be checked by a person before it is relied on. Read more

The business

Operates destination wellness retreats, day spas and bathing or hot-springs venues, earning bathing admissions, treatment appointments by therapists, retreat packages with accommodation, memberships and retail products.

See the sampleHow the model works

In short

  • 01

    Three linked statements

    Income statement, balance sheet and cash flow, linked in every period.

  • 02

    Valued two ways

    Discounted cash flow and trading multiples, side by side.

  • 03

    Monthly to annual

    Monthly, quarterly, half-yearly or annual periods, for up to 30 years.

  • 04

    Checked every period

    A Checks sheet shows the balance sheet balances and the cash reconciles.

The sample

The sample, as Excel draws it.

Built by the same system and checks as yours, on illustrative figures: every sheet as Excel draws it, or live.

Annual · 10 years · Low detail
Day spa and wellness retreat sample model.xlsx
The Summary sheet of the sample day spa and wellness retreat model

Illustrative figures: the sample describes no real business. The live preview shows values; your model’s Excel file has every formula.

How it works

How the model works for a day spa and wellness retreat.

  1. How it earns revenue3 formulas
    Rooms revenue · All hotels
    Rooms revenueOccupied room nightsHotel average daily rate (ADR)
    Rooms revenue · All hotels
    Occupied room nightsAvailable room nightsHotel occupancy
    Food, beverage and other revenue · All hotels
    Food and beverage revenueF&B revenue from in-house guestsNon-resident F&B and events revenue
  2. What drives its costs3 formulas
    Management and franchise fees · All hotels
    Franchise feesFranchise royaltyMarketing, reservations and loyalty feesF&B royalty
    Departmental and undistributed costs · All hotels
    Departmental expensesRooms department expensesFood and beverage department expensesOther departments expenses
    Departmental and undistributed costs · All hotels
    Undistributed operating expensesFixed undistributed expensesVariable undistributed expenses
  3. What it invests in3 formulas
    FF&E, refurbishment and depreciation · All hotels
    FF&E and refurbishment capexFF&E reserveScheduled refurbishment and major capex
    FF&E, refurbishment and depreciation · All hotels
    DepreciationDepreciation of building and existing fit-outDepreciation of additions
    FF&E, refurbishment and depreciation · All hotels
    Closing net book valueOpening net book valueFF&E and refurbishment capexDepreciation
  4. How it is funded3 formulas
    Debt
    RepaymentsScheduled repaymentsPrepayments from an equity raise and the cash sweep
    Debt
    Closing balanceOpening balanceDrawdownsRepayments
    Debt
    Interest expenseOpening balanceAll-in interest rateshare of the year
  5. How profit becomes cash3 formulas
    Working capital
    Trade receivablesRevenuefrom statementsDebtor daysDays in period
    Working capital
    InventoryDirect costs (positive)from statementsInventory daysDays in period
    Working capital
    Trade payablesCash operating costs (positive)from statementsCreditor daysDays in period
What it covers

34 parts, each one tested.

Every part is a tested building block with its own checks: yours is put together from the ones your business needs.

  • CPI forecastConsensus curve with long-run anchor
  • Corporate costsFixed cost base indexed to CPI
  • Working capitalFull working capital
  • Income taxCorporate rate with tax losses
  • Corporate fixed assetsStraight-line over remaining life
  • DebtAmortising term loan
  • Equity raisingDistribution reinvestment plan
  • Discounted cash flow valuationDCF on free cash flow to the firm
  • Multiples valuationEV / EBITDA multiple
  • LeasesLease register
  • Key-metric summaryLast-twelve-month and run-rate metrics
  • Covenant tests and headroomLVR, gearing and ICR for property
  • Feasibility metricsCash-flow returns
  • Sources and uses of fundsBalanced sources and uses
  • Customer deposits, deferred revenue and loyaltyDeferred revenue as days of revenueMoney customers pay before they are served — travel and event deposits, advance tickets, gift cards, prepaid memberships — plus loyalty points, patron deposits and gaming jackpots owed to customers.
  • Completed valueCapitalised income
  • Hotel registerRoom inventory changes by yearRooms (keys), opening book value and remaining life for each hotel.
  • SeasonalityMonthly seasonal profileIndices that shape occupancy and ADR through the year in monthly or quarterly models.
  • Rooms revenueCompetitive set penetration (MPI × ARI)Room nights available and sold, and rooms revenue at the average daily rate.
  • Food, beverage and other revenueSpend per occupied room plus non-resident F&BRestaurants, bars, banqueting, conferences, spa, parking and other operated departments.
  • Departmental and undistributed costsDepartmental cost ratios plus fixed undistributed costsDepartmental expenses (rooms, food and beverage, other), undistributed operating expenses (administration, sales and marketing, maintenance, utilities) and fixed charges (property taxes, insurance).
  • Management and franchise feesFranchise fees (% of rooms revenue)What the hotel owner pays a brand or operator — management fees, franchise fees or variable lease rent.
  • Hotel operating profitUSALI summary (GOP and hotel EBITDA)Total revenue, gross operating profit and hotel EBITDA in USALI summary form.
  • FF&E, refurbishment and depreciationFF&E reserve plus scheduled refurbishmentCapex on furniture, fixtures and equipment and refurbishments, and the hotel's net book value and depreciation.
  • Appointment services and retail attachActive clients × visit frequency × ticket
  • Practitioner and instructor payWage plus productivity bonus
  • Venue registerOpening date, closing date and capacityWhen each venue trades and its capacity — the facts the venue revenue and cost parts build on.
  • Food, beverage and secondary spend revenueCovers × average spend per headBar, food, function, concessions and merchandise sales at the venue.
  • Cost of goods sold and content costsMargin by revenue streamCost of food, beverage and merchandise sold, and content costs such as film hire paid on box office.
  • Venue labour costsWages as % of revenueWages, salaries and on-costs of venue staff.
  • Other venue operating costsCost lines with growthUtilities, repairs, marketing, security, cleaning, entertainment, licences and other site costs.
  • Venue revenue and site EBITDA
  • Admissions and attendanceAttendance × average ticket priceVisitors, patrons or admissions and the ticket revenue they generate.
  • Memberships and passesJoins, churn and yieldRecurring membership fees (gyms, clubs) and annual or season passes (attractions, ski fields).
Key numbers

The numbers it tracks.

  1. 01bathing visits
  2. 02treatments per therapist
  3. 03treatment revenue
  4. 04package occupancy
  5. 05spend per guest
  6. 06EBITDA
Used for

What it is used for.

Related models

More in fitness, leisure and attractions.

Every hospitality and leisure model

Looking for a day spa and wellness retreat financial model template? Ours arrives built for your business, with your figures in it.

Running a small business? Read what goes into a small business financial model.

See a finished model, sheet by sheet

The sample is built on illustrative figures and describes no real business. Models are calculations prepared from the information you provide. They are not financial advice and must be independently verified. See our terms.