Caldea

What Caldea does

Caldea is a thermal spa resort founded in 1994 in Escaldes-Engordany, Andorra, housed in an iconic 80-meter glass pyramid structure and described as the largest spa in southern Europe. The core product is a tiered thermal spa experience — Classic (ages 5+, 3 hours), Plus (ages 12+, 3 hours), and Premium/Inúu (ages 16+, 4 hours) — built around natural Pyrenean thermal waters that emerge at 70°C and are rich in sulfides, sodium, and thermal plankton. The water is processed through UV and chlorine disinfection, constant automated pH/chlorine monitoring, and glass-filter UVC recirculation. The Aquatermalcert (ATC) certification for 2025-2026 validates that waters retain their properties from source through to spa circuits. A dedicated Likids sub-brand (ages 3-8) extends the addressable segment to families with young children.

Supporting the core spa, Caldea operates a broad ancillary revenue layer: over 30 massage, ritual, and beauty treatments (including an exclusive Andorra partnership with Sothys Paris and organic/CBD offerings), two on-site restaurants (Mediterranean Restaurante Blu and Thai-Japanese Siam Shiki), branded merchandise (Colección Caldea), gift cards, and regular entertainment programming including YCE acrobatic water shows launching for 2026 and Cirque du Soleil-inspired performances. The business model is direct-to-consumer, primarily sold through caldea.com, with on-site reception, hotel partner distribution across 8+ Andorra hotels (3-star to 5-star), voucher platforms (Smartbox, Wonderbox, Groupon), and travel agent channels. Customer segments span families with children, couples, friends/groups, individual wellness seekers, and inbound tourists. Pricing spans €30.50 (Classic morning) to €56 (Premium) for entry and €57 to €274 for premium treatments, with 3-day and 5-day multi-day passes anchoring repeat-visit behavior. A 4-star superior lifestyle hotel (40 rooms, 14 floors) is under construction within the existing glass tower, scheduled 2024-2026, which will convert Caldea from a day-visit spa into an integrated resort destination.

Name

Caldea

Legal name

Caldea

Website

https://caldea.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Thermal Spa and Wellness Resort

NAICS

Other Traveler Accommodation (72119), All Other Traveler Accommodation (721199)

SIC

Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Destination Spa Resorts (THAGAMAA)

akta.pro secondary industries

Thermal Springs, Hot Springs & Thalassotherapy Resorts (THAGAMAE), Spa & Massage Services (Day Spas, Massage Studios, Treatment Packages) (THAJAHAC), Thermal Baths, Hot Springs & Saunas (Onsen, Hammams, Banya, Sauna Worlds) (THAJAHAD), Luxury Wellness & Spa Resorts (THAGACAG), Hydrotherapy & Thermal Spa Services (Sauna/Steam/Hot Tubs) (HSALAFAF)

Keywords

• Thermal spa services
• Wellness treatments
• Balneotherapy services
• Spa day passes
• Thermal water therapy

Headquarters

HQ city

Escaldes

HQ country

Andorra

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Thermal Spa Access Tickets: Primary revenue from selling thermal spa access tickets across three tiers: Classic (3 hours), Plus (3 hours), and Premium (4 hours). Multi-day passes (3 and 5 days) provide recurring visits at discounted rates.
2. Spa Treatments and Massages: Revenue from massage services (general, partial, localized), rituals (evasion, oriental, ayurveda), beauty treatments by Sothys, organic treatments, and duo/couples experiences. Treatments range from 20-90 minutes with pricing from €57 to €274.
3. Restaurant and Catering: Two on-site restaurants generate food and beverage revenue: Restaurante Blu (Mediterranean cuisine, €31 menu) and Siam Shiki (Thai/Japanese cuisine). Restaurants accessible both with spa entry and independently.
4. Spa + Hotel Packages: Partnership packages combining spa access with partner hotels (3-star to 5-star) throughout Andorra. Prices per person range from €106 to €163 depending on hotel category and spa access level.
5. Merchandise and Retail: Sale of branded merchandise including swimwear (from €19.50), beach towels, totebags (€10), cosmetic bags (€16), notebooks (€12), water bottles (€19.95), and beach bags (€29) in the Caldea collection.
6. Gift Cards and Experiences: Gift cards and experience packages sold through the 'Regala Caldea' program, allowing recipients to book specific services or receive flexible spa credits.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels9 records

Core offering

Caldea operates a thermal spa resort in Escaldes-Engordany, Andorra, providing access to natural hot spring waters (70°C source, cooled to 32-34°C) across three access tiers (Classic for ages 5+ with 3-hour access, Plus for ages 12+ with 3-hour access, and Premium/Inúu for ages 16+ with 4-hour access). The facility offers massages, rituals (Evasion, Oriental, Ayurveda), Sothys beauty treatments, organic treatments, two on-site restaurants (Mediterranean Blu and Thai-Japanese Siam Shiki), a dedicated children's spa (Likids for ages 3-8), live entertainment including acrobatic water shows, spa-plus-hotel packages with partner hotels, and branded merchandise.

Product overview

Caldea is a thermal spa resort located in Escaldes-Engordany, Andorra, housed in an iconic glass pyramid structure. The core offering centers on the Termolúdico (thermal spa) with three access tiers: Classic (ages 5+, 3 hours), Plus (ages 12+, 3 hours), and Premium/Inúu (ages 16+, 4 hours). The spa features thermal waters at 32-34°C sourced from 70°C hot springs rich in sulfur and minerals. Supporting offerings include the Spa Infantil/Likids for children ages 3-8, two restaurants (Mediterranean Restaurante Blu and Thai-Japanese Siam Shiki), over 30 massage and treatment options including Ayurveda, Sothys beauty, and organic treatments, live entertainment shows, and wellness workshops. A 4-star hotel is under development within the tower structure. The company also operates a merchandise line (Colección Caldea) and offers virtual tours, gift cards, and multi-day passes. Access pricing ranges from €30.50 (Classic morning) to €56 (Premium), with treatments priced from €57 to €274 per session.

Differentiator

Problem solved

Functional benefit

Brands

• Inúu: Adults-only premium spa experience (16+ years) offering exclusive access to all thermal facilities, treatments, workshops, and wellness activities including Tibetan bowl concerts and mindfulness sessions.
• Likids
• Classic
• Plus
• Premium
• The Romantic Room
• Colección Caldea

Products and services

• Caldea Thermal Spa (Termolúdico) Main thermal spa facility housed in the iconic glass pyramid in Escaldes-Engordany, Andorra, offering access to natural hot spring waters (70°C source, 32-34°C in pools) across three access tiers: Classic (5+, 3 hours), Plus (12+, 3 hours), and Premium/Inúu (16+, 4 hours), with lagoons, Indo-Roman baths, saunas, hammams, ice cabins, chromatic saunas, and relaxation areas.
• Spa Infantil (Likids)
• Massages Various massage treatments including general, partial, prenatal, and children's massages, plus specialized techniques such as bamboo cane massage with CBD oil, Doji candle massage, and podal reflexology. Prices range from €57 to €274 per session.
• Rituals Curated treatment experiences including Evasión (relaxation), Orientales (Japanese Hanakasumi, African gommage), and Ayurveda (Abhyangam, Kateevasthy, Elakkizhi, Shirodhara) rituals.
• Belleza by Sothys Advanced facial and body beauty treatments using Sothys luxury cosmetics, including Hydra4ha Hyaluronic and Jeunesse Anti-aging lines.
• Tratamientos Orgánicos Organic treatments using eco-certified products including CBD oil massage, Facial Organics with birch sap and floral water, and wood therapy (maderoterapia) treatments.
• The Romantic Room Private couple experiences featuring Premium entry for two combined with duo massages (Doji or aromatic) and 30 minutes of exclusive privacy in a romantic setting. Prices from €208 to €250.
• Restaurante Blu Mediterranean restaurant on Ground 0 offering contemporary cuisine with dishes featuring local products, with a pool access zone for bathers. Menu priced at €31.
• Restaurante Siam Shiki Thai-Japanese restaurant on Floor 1 featuring extensive sushi, sashimi, maki, Thai curries, and oriental cuisine. Closed Wednesdays.
• Hotel Packages Spa and hotel combination packages partnering with 3-star to 5-star hotels in Andorra including Hotel Espel 3*, Hotel Cérvol 3* & 4*, Mercure 4*, Novotel 4*, Fenix Hotel 4*, Hotel Màgic Ski 4*, Hotel Hesperia Andorra 4*, Andorra Palace, and Pierre Vacances apartments. Prices from €106 to €163 per person.
• Colección Caldea (Merchandise) Branded merchandise collection including swimwear (from €19.50), beach towels, totebags (€10), cosmetic bags (€16), notebooks (€12), water bottles (€19.95), and beach bags (€29) in Lavanda, Coral, and Noche color themes.
• Tarjeta Regalo (Gift Card) Gift cards and experience packages sold through the 'Regala Caldea' program, allowing recipients to book specific services or receive flexible spa credits.
• Abonos (Multi-day Passes) 3-day and 5-day pass bundles for Classic and Premium access offering savings compared to single-day purchases. 3-day Classic at €93.50, 5-day Classic at €140, 3-day Premium at €152, 5-day Premium at €228. Valid until November 30 of the current year.
• YCE Water Show Acrobatic water show in the Gran Laguna featuring original music, light effects, and water choreography, available in YCE REDUCED and YCE EXTENSED formats.

Quantifiable outcome

• Waters certified 100% thermally intact through Aquatermalcert 2025-2026 audit process

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

13 partnerships are on record, tiered minor and core.

• Hotel Espel 3*minorChannel Partner/ Reseller/ DistributorAndorra hotel partner offering Caldea spa packages with 3-star accommodation in Escaldes-Engordany area. Part of the hotel distribution network for spa-plus-accommodation packages.
• Hotel Cérvol 3* & 4*minorChannel Partner/ Reseller/ DistributorMulti-category hotel partner (3* and 4*) offering Caldea spa packages at different price points. Located within walking distance or short drive from Caldea.
• Mercure 4* (Prestigi Hotels)minorChannel Partner/ Reseller/ Distributor4-star hotel partner in Prestigi Hotels group offering Caldea packages. Located approximately 15 minutes walking distance from Caldea.
• Novotel 4* (Prestigi Hotels)minorChannel Partner/ Reseller/ Distributor4-star hotel partner in Prestigi Hotels group offering Caldea packages. Located approximately 15 minutes walking distance from Caldea.
• Fenix Hotel 4*minorChannel Partner/ Reseller/ Distributor4-star boutique hotel partner offering family-friendly Caldea packages. Features family rooms and comfortable apartments for extended stays.
• Hotel Màgic Ski 4*minorChannel Partner/ Reseller/ Distributor4-star mountain hotel partner offering Caldea spa packages combined with ski resort access. Part of the Magic hotel collection in Andorra.
• Hotel Hesperia Andorra 4*minorChannel Partner/ Reseller/ Distributor4-star hotel partner located just 5 minutes walking distance from Caldea. One of the closest hotels to the spa facility.
• Pierre Vacances (El Tarter)minorChannel Partner/ Reseller/ DistributorApartment rental partner offering Caldea spa packages with self-catering accommodation in El Tarter area near ski resorts.
• Sothys PariscoreStrategic or Co-development PartnerExclusive beauty treatments partnership featuring Sothys cosmetics - a premium French skincare brand. Offers facial and body treatments using Sothys' advanced cosmetic formulations. Caldea is the exclusive Sothys partner in Andorra.
• Andorra Direct BusminorGTM or Marketing PartnerBus transport partnership providing 16 daily frequencies between Barcelona Airport and Andorra city center. Facilitates tourist access to Caldea from Barcelona.
• NaturlandminorGTM or Marketing PartnerAdventure park partnership offering combined Caldea + Naturland packages including Tobotronc (world's longest alpine slide), zip lines, and family activities in La Rabassa.
• Grandvalira (Family Park Canillo)minorGTM or Marketing PartnerSki resort adventure partnership offering water activities (water scooters, kayaks), Fornatura wildlife exploration, and zip lines including the longest in the Pyrenees (550m).
• Cirque du SoleilcoreStrategic or Co-development PartnerEntertainment partnership featuring Cirque du Soleil-inspired water shows at Caldea's Gran Laguna. Special Premium + Cirque du Soleil packages available at €89.

Scale indicators3 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Therme Erding: Largest thermal spa complex in the world, located near Munich. Directly comparable as a multi-zone thermal spa resort combining wellness pools, saunas, slides, treatments, restaurants, and on-site hotel capacity — operates at a similar scale and ticket-pass model to Caldea.
• Terme di Saturnia: Italian luxury thermal resort combining natural hot springs, multi-tier spa access, treatment programs, on-site 5-star hotel, and F&B. Comparable to Caldea as a European luxury destination spa built around proprietary thermal water and integrated lodging.
• Aqua Dome: Austrian Alpine thermal spa in Längenfeld with tiered access, outdoor thermal pools, saunas, treatments, and an integrated 4-star hotel. Highly comparable to Caldea as a mountain thermal-spa resort with similar ticket-pass and lodging bundle structure.
• Therme Bucharest: Large-format thermal/wellness resort near Bucharest with tiered access, sauna worlds, treatment menus, and multiple restaurants. Comparable to Caldea as a high-capacity, multi-revenue destination spa anchored in a single thermal-water asset.
• Széchenyi Thermal Bath: Historic Budapest thermal bath complex with tiered ticket access, massages, and wellness add-ons, surrounded by a robust hotel/tourism ecosystem. Comparable to Caldea as a European destination thermal spa monetized through tickets plus ancillary services.
• Blue Lagoon Iceland: Iconic destination geothermal spa in Iceland leveraging natural mineral-rich waters with multi-tier ticket access, on-site hotel (Retreat), premium treatments, and F&B. Closest international analogue to Caldea's natural-asset, destination-spa positioning.
• Badeparadies Schwarzwald: Large thermal/pool complex in Germany's Black Forest offering tiered wellness, sauna worlds, slides, and treatment add-ons. Directly comparable to Caldea's multi-zone day-spa structure and ancillary revenue mix.

Broad incumbents

• QC Terme: Italian operator of multiple premium thermal/wellness spa resorts across Italy and France with tiered access, treatments, and integrated hotels. Comparable as a broader incumbent in the same European thermal-spa category, though operating across multiple locations rather than a single flagship.

Emerging players

• Aire Ancient Baths: Urban thermal-bath operator with sites in Spain, the US, and elsewhere, focused on atmospheric bathing circuits, massages, and premium couples experiences. Comparable to Caldea's Premium/Inúu and Romantic Room positioning as a curated, experience-led thermal-wellness brand.

Regional players

• Palais des Thermes - Stralsunder Betriebs GmbH: Wellness/thermal spa complex in Strasbourg, France, combining thermal baths, saunas, treatments, and a connected hotel. Comparable to Caldea as a single-site thermal-spa-with-hotel in a nearby European market that draws cross-border tourism from neighboring countries.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/caldeaandorra
• Facebookfacebook.com/Caldea
• Instagraminstagram.com/caldea_andorra
• TikToktiktok.com/@caldea_andorra
• Xx.com/caldea
• LinkedInlinkedin.com/company/caldea-inuu

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Caldea