What Siam Wellness Group does

Siam Wellness Group Public Company Limited (SET: SPA) is Thailand's largest spa and wellness chain and the first spa company listed on the main board of the Stock Exchange of Thailand (moved from mai on September 13, 2024). Founded on November 28, 2001 in Bangkok, the group operates a vertically integrated wellness ecosystem organized across five subsidiaries: Siam Wellness Group (core spa brands — Let's Relax, RarinJinda Wellness Spa, Baan Suan Massage, Stretch•me Clinic, WellnessME Clinic); Siam Wellness Resort (RarinJinda Wellness Spa Resort and Rarin Villas in Chiang Mai plus Deck One restaurant and OHB Café); Siam Wellness Lab (LRL lifestyle products and Dr.Spiller biomimetic skincare distribution); Siam Wellness Education (Ministry of Education-recognized Thai Massage and Spa School); and Siam Wellness Amara (Sleep Labb Clinic). The network spans 100+ branches across Thailand and Asia, including hotel-embedded spa outlets inside Courtyard by Marriott Suvarnabhumi Airport, Grande Centre Point Surawong, and Radisson Blu Plaza Bangkok.

Revenue is generated through five streams: per-visit spa and wellness services across the multi-brand retail network; hotel-embedded B2B2C spa operations where branded outlets operate inside partner hotel properties; resort/hospitality revenue from owned Chiang Mai assets including a 5-star resort, private villas, restaurant, and café; retail product distribution of LRL branded spa products and imported Dr.Spiller skincare via Siam Wellness Lab; and tuition from the Thai Massage and Spa School. The company serves both domestic Thai consumers and international wellness tourists, with pricing structured by brand tier (budget Baan Suan, mid-market Let's Relax, premium RarinJinda and Let's Relax Onsen, clinical Stretch•me/WellnessME, and luxury 7-villa Rarin Villas). Headcount is reported in the 251–500 range, supporting the 100+ branch network plus resort operations and education. Authorized capital stands at 213.75 million Baht with 213,749,982 Baht paid up.

Customer segments span individual wellness consumers (B2C), hotel and resort partners (B2B venue hosts), leisure/hospitality guests (resort and dining), and retail product consumers. The technology stack is non-proprietary — standard POS, social media, LINE/Facebook booking, and corporate website/IR systems — with no disclosed AI/ML capabilities. Distribution channels include direct retail storefronts, hotel-embedded outlets, owned resort properties, e-commerce (Shopee, Lazada) for LRL and Dr.Spiller products, and international distribution via Siam Wellness Lab. Marketing relies on social media (Facebook, Instagram, LINE), SET investor disclosures, press/awards, and CSR/sustainability initiatives including the Let's Relax Goes Green program and the Silom Edge upcycling spa concept.

Name

Siam Wellness Group

Legal name

Siam Wellness Group Public Company Limited

Website

https://siamwellnessgroup.com

Company type

Public

Founded year

2001

Operating status

Operating

Headcount range

251–500 employees

Short description

Siam Wellness Group is Thailand's largest spa and wellness chain, operating 100+ branches across budget, mid-market, premium, and clinical segments under Let's Relax, RarinJinda, Baan Suan, Stretch•me, WellnessME, plus resort, product distribution, and education businesses, serving Thai consumers and international wellness tourists.

Ownership category

akta.pro rank

Product category

Spa and Wellness Services

NAICS

Traveler Accommodation (7211), Nursing and Residential Care Facilities (623), Tour Operators (561520), Continuing Care Retirement Communities (623311)

SIC

Services-Amusement & Recreation Services (7900), Services-Health Services (8000), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Spa & Massage Services (Day Spas, Massage Studios, Treatment Packages) (THAJAHAC)

akta.pro secondary industries

Destination Spa Resorts (THAGAMAA), Destination Spas & Spa Resorts (HSALAFAC), Thai Massage (HSALAEAG), Luxury Wellness & Spa Resorts (THAGACAG), Thermal Baths, Hot Springs & Saunas (Onsen, Hammams, Banya, Sauna Worlds) (THAJAHAD)

Keywords

• Spa and wellness services
• Therapeutic massage
• Wellness tourism hospitality
• Spa product distribution
• Wellness education training

Headquarters

HQ city

Bangkok

HQ country

Thailand

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Spa & Wellness Services (Direct Retail): Revenue from day spa operations across multiple brands (Let’s Relax, RarinJinda Wellness Spa, Baan Suan Massage, Stretch•me Clinic, WellnessME Clinic) operated as owned retail locations. Services include Thai massage, therapeutic treatments, onsen, physical therapy, and preventive wellness. Revenue is transaction-based, driven by walk-in and pre-booked customers across 55+ branches.
2. Hotel & Resort Embedded Spa Operations: Revenue from spa operations embedded within partner hotels (Courtyard by Marriott Suvarnabhumi Airport, Grande Centre Point Surawong, Radisson Blu Plaza Bangkok, and others). The company operates branded spa outlets within these hotel properties, serving hotel guests and external visitors. This is a B2B2C model where the hotel provides venue and customer traffic.
3. Hotel Accommodation & Hospitality: Revenue from owned resort operations: RarinJinda Wellness Spa Resort (Chiang Mai), Rarin Villas, Deck One restaurant, and OHB Café and Meal. These properties offer rooms, villas, dining, and event spaces, targeting leisure travelers and wellness tourists.
4. Spa & Wellness Product Distribution: Revenue from distribution of spa-related products and therapeutic personal care products under LRL (Let’s Relax Lifestyle) brand, and import/distribution of Dr. Spiller (Biomimetic Skin Care Solutions). Products are sold both domestically and internationally.
5. Wellness Education & Training: Revenue from Thai massage and spa training school (Siam Wellness Thai Massage and Spa School), offering standardized courses in therapeutic practices. The school trains both internal staff and external students, recognized by the Ministry of Education.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Siam Wellness Group operates a multi-brand Thai spa and wellness chain offering spa services (Thai massage, onsen, therapeutic treatments, physical therapy, preventive wellness) across 55+ branches from budget neighborhood outlets to 5-star resort spas. The group also operates resort/hospitality properties (wellness resort, private villas, dining venues), distributes spa-related products and skincare under LRL and Dr.Spiller brands, and runs a Ministry of Education-recognized Thai Massage and Spa School.

Product overview

Siam Wellness Group Public Company Limited (SPA) is Thailand\'s leading spa and wellness company, and the first spa company listed on the Stock Exchange of Thailand. The company operates a comprehensive wellness ecosystem with four main business segments: Spa & Wellness (operated under five brands: Let\'s Relax, RarinJinda Wellness Spa, Baan Suan Massage, Stretch•me Clinic, and WellnessME Clinic), Resort & Hospitality (RarinJinda Wellness Spa Resort, Rarin Villas, Deck One, OHB Café), Product Distribution (LRL/Let\'s Relax Lifestyle, Dr.Spiller skincare products), and Education (Thai Massage and Spa School). The company also has a newer subsidiary focused on sleep therapy (Sleep Labb Clinic). With 23+ years of experience, the group operates 100+ branches across Thailand and in Asia, offering services ranging from budget-friendly massage to premium 5-star spa experiences, wellness clinics, boutique hotels, restaurants, and distributes spa-related products domestically and internationally.

Differentiator

Problem solved

Functional benefit

Products and services

• Let's Relax Thailand's original boutique day spa brand since 1998, offering premium spa services with experienced therapists. Operates 68 branches across Thailand and internationally.
• RarinJinda Wellness Spa 5-star spa under the concept of Premium & Innovative Wellness Spa, situated within 5-star resorts and hotels. Integrates cutting-edge technology with traditional Thai spa services. Operates 2 branches.
• Baan Suan Massage 3-star neighborhood massage outlet offering relaxing massage therapy for local consumers in highly populated areas, targeting the middle segment. Operates 8 branches.
• Stretch•me Clinic Physical therapy clinic offering bespoke programs combining manual therapy with physical modality machines such as Ultrasound and High Power Laser under the supervision of experienced Physiotherapists. Operates 7 branches.
• WellnessME Clinic Alternative health center providing holistic care through advanced technology and personalized analysis by experts. Integrates medical innovation with lifestyle needs for Preventive & Personalized Wellness. Operates 3 branches.
• RarinJinda Wellness Spa Resort 5-star Health Spa Resort with Northern Lanna style ambience. Features private balconies overlooking Doi Suthep hill and Ping River, Destination Spa, Fitness and Yoga room, open-air swimming pool, and 150-year-old Teakwood House.
• Rarin Villas Private villa concept of Natural in the City with 7 villas (2 bedroom and 3 bedroom). Features private pool, private onsen, waterfall service by Butler Team, Stone Foot Massage Area, Fully-Equipped Fitness, and ORB Cafe.
• Deck One Restaurant adjacent to Ping River riverside offering Modern Thai and Western Cuisine with cozy indoor and outdoor ambiance. Provides catering for parties and wedding parties.
• OHB Café and Meal Nature-integrated café seamlessly surrounded by natural air and lush greenery. Offers carefully curated food, beverages, and pastries. Located at Rarin Villas complex.
• LRL (Let's Relax Lifestyle) Distribution of spa-related products and therapeutic personal care products for modern lifestyle. Brand under Siam Wellness Lab Co., Ltd.
• Dr.Spiller Importing and distributing facial and body products under the Dr. Spiller brand, Biomimetic Skin Care Solution, for distribution domestically and abroad.
• Thai Massage and Spa School Health and spa training institute offering standardized courses covering all therapeutic practices. Recognized by Ministry of Education. Operates 1 branch.
• Sleep Labb Clinic Therapy and treatment clinic for insomnia and sleep disorders under Siam Wellness Amara Co., Ltd. (SWA). Focuses on services and products to help individuals overcome sleep insomnia and improve overall sleep quality.

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Courtyard by Marriott Suvarnabhumi AirportcoreStrategic or Co-development Partner · 1 December 2023Let’s Relax spa opened at Courtyard by Marriott Suvarnabhumi Airport, marking a key partnership in the airport hotel segment. This location serves both arriving international tourists and transit travelers.
• Grande Centre Point SurawongcoreStrategic or Co-development Partner · 1 September 2023Let’s Relax spa opened a new branch at Grande Centre Point Surawong hotel, expanding the company's hotel-embedded spa footprint in the Bangkok CBD area.
• Radisson Blu Plaza BangkokcoreStrategic or Co-development Partner · 1 July 2023Let’s Relax spa operates a branded spa outlet on floor 6 of Radisson Blu Plaza Bangkok, in the Sukhumvit area. The partnership provides spa services to hotel guests and walk-in customers, leveraging the hotel's central location near MRT Sukhumvit and BTS Asok stations.
• Mahidol University College of MusicminorStrategic or Co-development Partner · 1 January 2023Let’s Relax Spa collaborated with Mahidol University College of Music to celebrate its 25th anniversary, creating new experiences under the 'Unbounded Senses of Relaxation' theme for customers.

Scale indicators6 records

Recent moves7 records

Expansion highlights3 records

Market position

Strengths1 record

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/siamwellnessgroup
• LinkedInlinkedin.com/company/siam-wellness-group-public-co-ltd
• Xx.com/SiamWellnessGrp

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries5 records

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 Siam Wellness Group