Health Fitness Dynamics, Inc. (HFD) has just begun an industry wide study entitled 2003 — 2004 Spa-Specific Revenue per occupied Room & Snap Shot of Top-Line Financials. This is an expansion of HFD's 2001 Revenue per Occupied Room Study.

'The response thus far has been outstanding,' said HFD co-owner Judith Singer. 'The spa industry is very much in need of having reliable financial information so that resort-spa owners, operators, asset managers, investors, developers, etc. know the economic realities of the 'spa business.' As more and more spas are built, there is a need to understand the financial viability and create economic benchmarks and management tools.'

Participants include many of the hotel/resort chains and management companies, independent hotels/resorts, asset managers, etc.

If you have a hotel or resort-based spa or if you have a lodging-based association that represents these properties, HFD invites you to participate in the study. It should take less than 10 minutes to complete the 6 questions. You do not need to give actual dollars, just percentages.

In return for your participation, HFD will send you a complimentary copy of the Executive Summary of the research findings. These invaluable economic benchmarks will to help you manage your spa and compare it to the performance of comparable spas.

As is the case with all HFD research studies, the information will be totally confidential. In the Executive Summary, data is organized so that your property is not identifiable.

To participate, send an e-mail to [email protected] stating your name, position and affiliation. In the "subject line" say HFD Research Project. The survey will be e-mailed to you promptly.

Completed surveys should be returned to HFD on or before Friday, October 1.

About HFD

Health Fitness Dynamics, Inc. (HFD) is an internationally recognized spa consulting firm that is owned by Judy Singer and Patty Monteson. Since 1983, the Pompano Beach, Florida company has worked primarily with fine hotels and resorts, mixed-use real estate developments, country clubs and up-scale day spas and has been the spa consulting company to almost $650 million worth of completed spa development.