Austria: Vamed Vitality World Draws a Balance

With a market share of roughly 24 percent, Vamed Vitality World, the number one Austrian thermal spa operator, recently drew a balance. Vamed was able to note an increase of three percent last year at the six thermal spas it runs, noting a total of 1.74 million visitors. Yields only grew by a good one percent during this period though, reaching 75.7 million euros. During the presentation of last year’s results, Managing Director Clemens Westreicher pointed to the increasing relevance of mini-break destinations in times of crises Vamed will be building two more thermal spas in Austria: a thermal spa and lodge will be opened for St. Martin’s in 2009 in Seewinkel in Burgland (and will go by the same name, as already reported), and another facility will constructed next year in Kaprun. Vamed will not be initiating any more new spa construction after that. Instead, it will concentrate more strongly on taking over existing spas. It also wants to get active outside of Austria. Vamed will be investing a total of 278 million euros in the two above-mentioned spas this year and next, as well as the new construction of the Oberlaa thermal spa. (eap)