The spa, which counts Cindy Crawford and Grace Kelly among its former clients, charges $4,500 to $5,000 for a weeklong stay, The Wall Street Journal said.
"The one-week stay isn't the norm anymore," says Jerry Katzoff, who purchased the women-only spa in 1989 and plans to auction it in November. "Women are busy. They're working. We used to get the wives of CEOs. Now we get the women as CEOs."
Katzoff estimates that business is down 25% to 30% from previous years, with customers less willing to spend several days perusing the 5.7-acre spa's facilities, which include a pool, library and tennis courts.
While luxury spa resorts have seen business drop off, day spas are an ever more popular option. Since 2007, 4,564 such spas have sprung up across the country, even in the midst of the financial crisis and economic slowdown. Meanwhile, hotel owners opened a further 465 spas.